Bitcoin holders in profit, but buyers are nowhere to be found – $80K is the line
Photo: AMBCrypto
The line between healthy profit-taking and selling driven by weakening conviction is razor-thin. Currently, it seems that Bitcoin is caught between the two. Technically, BTC has been consolidating above $80k for over three weeks now, but the price action still lacks the strength needed to confirm a bottom. This puts the $75k level in focus, as it represents the STH cost basis in the current cycle. Why does this matter? With Bitcoin trading nearly 10% above this level, short-term holders are still sitting on profits.
Source: AMBCrypto
