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Bitcoin (BTC) Profit-Taking Still Modest, No Sign of Bull Run Ending

  • Bitcoin is currently trading below $106,000, leading some investors to cash out partial holdings to secure profits.
  • New data indicates that profit-taking is modest compared to past market peaks, suggesting a possible short-term correction but not the end of the bullish trend.
  • Accumulation trends by major Bitcoin holders and signals like NRPL and BCMI point towards continued strength in Bitcoin's rally with no clear indications of a shift to a downtrend.
  • Whale buys of over 20,000 BTC in the last 48 hours, along with rising CryptoQuant's BCMI signal, indicate a potential market upside and early stages of an accumulation phase.

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