Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
CryptoQuant: Profit-taking causes Bitcoin to pull back 15%, but the bull market is not over yet

CryptoQuant: Profit-taking causes Bitcoin to pull back 15%, but the bull market is not over yet

CointimeCointime2024/03/25 00:29
By:Cointime

CryptoQuant analysts believe that the bull market cycle of Bitcoin is not yet over because the price valuation indicator is still far from the peak of the previous bull market. After reaching a historical high of $73,700, Bitcoin entered a price correction period, and miners, "whales," and other market participants, including large investors, began to sell their Bitcoin holdings to make a profit. CryptoQuant also found that the unrealized profit ratio soared to 69%, the highest level since March 2021 when BTC's trading price was around $60,000. Despite traders selling off their assets, the unrealized profit ratio remains as high as 47%.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Telegram’s Durov says his $14B fortune will go to his 100+ children

Share link:In this post: Pavel Durov plans to leave his $13.9 billion fortune to over 100 biological children. His wealth will be locked for 30 years to encourage independent growth among his heirs. Durov faces 17 criminal charges in France but calls them baseless and politically motivated.

Cryptopolitan2025/06/20 00:01