Despite the short-term price recovery, Bitcoin remains in a bear market, according to CryptoQuant analyst Julio Moreno.
Bitcoin profit-taking could accelerate as BTC prices climb to three-month highs and investors begin locking in gains, according to Julio Moreno, head of research at onchain analytics platform CryptoQuant.
Holders realized 14,600 BTC in profits on Monday, or $1.1 billion, following Bitcoin's April rally, Moreno said, adding that this is the “highest” single day of profit-taking since Dec. 10, when BTC was trading above $90,000.
Bitcoin holders' realized profits spike after the April rally. Source: CryptoQuant
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