Odaily Planet Daily News According to CryptoQuant analyst Axel Adler Jr, in the past 24 hours, short-term holders sold an average of about 21,000 bitcoins through centralized exchanges (CEX), which is lower than the historical average selling pressure level. This shows that despite the rise in Bitcoin prices, short-term holders are currently in a relatively calm state and are not in a large-scale rush to lock in profits.
Analysts pointed out that $120,000 will be the next psychological milestone for many market participants. As prices approach this boundary, profit-taking activities may increase. Similar reactions have been observed many times whenever Bitcoin reaches an integer price level.