The crypto market continues to see profit-taking, but experts believe that this does not necessarily mean the end of the bullish trend. Coins have become less likely to stay in wallets, which indicates a decrease in the MDIA indicator. This suggests that older coins are returning to circulation, contributing to the growth of the network.
James Wynn Liquidation
Renowned trader James Wynn of Hyperliquid lost $99 million when the price of Bitcoin fell below $105,000. The liquidation of large positions can cause a sharp decline in prices, but the market is showing resilience.
Optimistic forecast from Santiment
Analytics company Santiment maintains an optimistic view of the market, despite the fact that the price of BTC / USD has fallen by 10%. Experts say that profit-taking is a natural process that does not always mean a change in trend.
Current Market Situation
Bitcoin price has dropped below $105,000, but market sentiment remains bullish. Large tranches of BTC are leaving exchanges, including a transaction worth 7,000 BTC. Experts suggest that the market may retest the support level before continuing to rise.
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