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Bitcoin’s Profit-Taking Hits Top Gear, Here’s What To Expect

  • Bitcoin holders are displaying a sideways pattern, with increasing selling pressure from both institutional and retail holders for profit-taking.
  • Bitcoin whales have sold 50,000 BTC worth $4.6 billion in the last 10 days, impacting price consolidation and hindering breakouts above $100k.
  • Bearish pressures testing BTC support levels with warnings of a potential drop to $92k, leading to billions possibly being wiped from the market cap.
  • Despite profit-taking activities, institutional flows are strong, showing positive signs with over $2 billion inflows into crypto products last week.

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