Bitfinex report: Long-term Bitcoin holders begin taking profits

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ODAILY
17 hours ago
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Odaily Planet Daily Report: Bitfinex reported that the unprecedented inflow of funds into the Bitcoin ETF and strong institutional demand have driven Bitcoin close to the historic $100,000 mark, but long-term holders (LTH) have also started to take profits. Although facing profit-taking resistance around $99,334 (its latest all-time high), BTC has shown resilience, holding steady around $96,000 on the weekend, and then regaining some momentum in early Monday trading. Since the low point of $66,880 before the US election, BTC has now risen 47%, and has risen 130% so far this year. The outstanding performance of BTC relative to traditional assets is undeniable: Bitcoin's market capitalization is now higher than Saudi Aramco, consolidating its position as the world's seventh-largest asset, with a peak valuation of over $1.9 trillion.

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