<ul><li>Long-term Bitcoin holders are starting to cash out after the price surge past $100,000, as indicated by an increase in Dormancy metric.</li><li>While older holders are selling their dormant coins, new buying demand remains weak, leading to limited liquidity rotation in the market.</li><li>Low BTC Velocity suggests that the market may struggle to absorb the selling pressure from long-term holders, potentially impacting short-term momentum.</li><li>Rising Dormancy and low Velocity signal a return of supply without sufficient fresh demand, posing short-term challenges that could affect price action.</li></ul>

On-Chain Signals Hint at Profit-Taking by Long-Term Holders

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