{"id":41871,"date":"2024-11-22T08:06:45","date_gmt":"2024-11-22T08:06:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-eyes-100k-but-glassnode-foresees-potential-profit-taking-after-milestone\/"},"modified":"2024-11-22T08:06:45","modified_gmt":"2024-11-22T08:06:45","slug":"bitcoin-eyes-100k-but-glassnode-foresees-potential-profit-taking-after-milestone","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-eyes-100k-but-glassnode-foresees-potential-profit-taking-after-milestone\/","title":{"rendered":"Bitcoin Eyes $100K, But Glassnode Foresees Potential Profit-Taking After Milestone"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Investors may start to take profits as Bitcoin (BTC) gets closer to the noteworthy $100,000 milestone, which could lead to a market fall. After reaching this milestone, Glassnode\u2019s co-founders, Jan Happel and Yann Allemann, also known on social media as \u201cNegentropic,\u201d cautioned their 63,200 followers that the cryptocurrency king might decline.<\/p>\n

Potential for Profit-Taking Triggering a Dip<\/strong><\/h2>\n

The Glassnode team notes that Bitcoin is currently trading just under $97,000, and hitting the six-figure mark could trigger significant sell-offs. They compare this scenario to previous instances like the $73,000 high in March and the $70,000 retest in May, where profit-taking was not as intense. If profit-taking indicators increase, the Bitcoin price could experience a correction.<\/p>\n

\u201cBitcoin hits $97,000 just a step away from the six-figure milestone! But beware \u2013 $100,000 could trigger major profit-taking,\u201d<\/em> Glassnode warns. They also highlight that long-term holders, who typically exit during a bull run, have been selling smaller amounts this time around.<\/p>\n

While long-term holders have been reducing their positions since Bitcoin began its climb from $60,000 in October, these sales have been more subdued than past market cycles. Glassnode points out that this is the largest selling activity by long-term holders during this particular price surge but emphasizes that it is much smaller than the pre-halving sales seen earlier this year.<\/p>\n

\u201cSince Bitcoin started climbing from $60,000 in October, long-term holders have been reducing their positions. This is the largest selling activity compared to other market participants during this run to new all-time highs. But don\u2019t panic! These sales are much smaller than the pre-halving exits seen earlier this year,\u201d the founders noted.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) Investors may start to take profits as Bitcoin (BTC) gets closer to the noteworthy $100,000 milestone, which could lead to a market fall. After reaching this milestone, Glassnode\u2019s co-founders, Jan Happel and Yann Allemann, also known on social media as \u201cNegentropic,\u201d cautioned their 63,200 followers that […]<\/p>\n","protected":false},"author":35,"featured_media":41872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41871"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=41871"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/41872"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=41871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=41871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=41871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}