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.