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Bitcoin Network Sees Spike In Realized Profits – Still Far From Late 2024 Highs
According to recent data from Glassnode, the Bitcoin network has witnessed a significant surge in realized profits. While this trend may raise concerns about a potential correction, it’s essential to consider the broader context and ongoing market dynamics.
As the cryptocurrency hovers just below its all-time high, the balance between bullish momentum and investor profit-taking will be crucial in determining whether BTC breaks higher or retraces further in the upcoming sessions.
In recent days, Bitcoin has struggled to breach the $109,000 resistance zone. Despite bulls maintaining control and defending key support levels, this stagnation has led to growing unease among traders.
Source: bitcoinist.com
