Bitcoin has staged a significant rebound, soaring to approximately $110,000 and putting it squarely within striking distance of its all-time high.
Bitcoin price is nearing all-time highs with an unprecedented lack of profit-taking, highlighted by the absence of the usual selling movements at past market peaks, suggests a recent report by Crypto Dan, citing data from blockchain analytics firm CryptoQuant.
This unique behavior, highlighted in a recent report by Crypto Dan, suggests a strong bullish sentiment among key market players.
According to Crypto Dan, there are “no signs of the profit-taking movements seen at past peaks.”
This observation is corroborated by CryptoQuant’s “Bitcoin: Net Realized Profit and Loss (NRPL)” chart, a crucial metric that tracks the aggregate profit or loss realized by all coins moved on-chain.
Understanding the Chart:
The NRPL chart visually represents periods of significant profit-taking or loss-realization across the BTC network.
This subdued profit-taking suggests a strong conviction among holders. Crypto Dan elaborates that “Whales show no intention of taking profits at this price level and are likely to
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