Bitcoin absorbed $200 million profit-taking at $80,000 in a bullish sign for BTC
CoinDesk
Bitcoin showed resilience by absorbing $200 million in profit-taking at the $80,000 level, signaling underlying market strength.Summary
Bitcoin successfully absorbed $207.56 million in realized profits on Sunday as the price crossed the $80,000 threshold. On-chain data from Santiment indicates this activity reflects a healthy transition where long-term holders transfer coins to new buyers, effectively raising the network's average cost basis. Analysts view this as a bullish sign, noting that the profit-taking volume is significantly lower than levels typically associated with major market cycle tops. While macroeconomic factors and options market caution persist, the current distribution pattern suggests a steady upward trend rather than an imminent reversal.
(Source：CoinDesk)