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CryptoQuant: Bitcoin may continue to see profit-taking, and the "bear market rebound" is still not over
Odaily Planet Daily News reports that on-chain analysis firm CryptoQuant states that, with recent price increases, profit-taking behavior in the Bitcoin market may further intensify.
Data shows that Bitcoin has risen over 20% since early April, but the firm still defines this rally as a “bear market rebound.” The current short-term holder profit indicator remains above 1, indicating that the market has been in a continuous profit realization phase since mid-April.
Analysis suggests that although selling pressure is increasing, a price correction may still take time to materialize.