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Large Bitcoin Investors Realize $1.54 Billion in Profits but Rally Still Intact: CryptoQuant
According to the latest findings from blockchain intelligence platform, CryptoQuant, large Bitcoin investors have realized an astonishing $1.54 billion in profits over the past 24 hours. Despite this massive profit-taking, the rally of the cryptocurrency remains intact, suggesting that the momentum behind Bitcoin’s price action has not been derailed.
The data highlights a fascinating dynamic within the Bitcoin market. It appears that long-term holders have played a significant role in this sudden surge in profit realization, accounting for approximately $1.96 billion or 56% of the realized gains. On the other hand, short-term holders have captured around $1.54 billion and accounted for the rest.
It is interesting to note that while large Bitcoin investors are locking in profits, it does not seem to be having a material impact on the broader trend. In fact, the rally appears to still be intact, with no significant damage done to the overall momentum of the cryptocurrency’s price action.
Source: cryptopotato.com
