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Bitcoin Profit Taking Explodes: 12x More Gains Than Losses Hitting Exchanges

  • On-chain data shows that the ratio between Bitcoin profit and loss being sent to exchanges is approaching euphoric bull market levels.
  • The volume of deposits and withdrawals to exchanges has been increasing recently, indicating rising demand for trading activity among investors.
  • The average profit from exchange deposits on the Bitcoin network is 12 times larger than losses, aligning with behaviors typically seen in energetic stages of previous bull markets.
  • As of now, Bitcoin is priced around $105,800, down nearly 5% in the last seven days.

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