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TACO Time: Bitcoin Investor Profits Surge as $120k Becomes Key Battleground

  • Glassnode analysis shows Bitcoin rally strength continues despite sideways trading after recent all-time high, with activity up across all market sectors.
  • Investor profitability and spending have increased notably but remain below prior bull market peaks, suggesting further upside potential before overextension.
  • Analysts identify US$120k as the next key resistance zone where sell-side pressure is expected to accelerate based on historical on-chain models.
  • Trump's tariff threats create market uncertainty, but a recent court ruling declares 'reciprocal tariffs' illegal, though the current administration plans to appeal.

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