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Bitcoin rally pauses as signs of profit-taking emerge

CryptoQuant said Bitcoin recently pulled back from an eight-month high, with its price down nearly 4% over seven days after profit-taking signals appeared.

Reported · Written up by our desk · Market Structure

Bitcoin Magazine, citing a new CryptoQuant report, said Bitcoin’s recent advance is showing signs of slowing as traders start taking profits. The report still characterizes the broader backdrop as a bull market, but it warns that a healthy correction could be coming.

Bitcoin’s price recently stood at $82,939, down nearly 4% over a seven-day period, after reaching an eight-month high of $87,251 last week, according to the outlet. CryptoQuant attributed the bull-market call to Bitcoin crossing above its 365-day moving average, which it described as a definitive technical signal based on prior cycles.

The report also pointed to short-term trader behavior, saying the coins held for one to three months appear to be in focus as momentum cools. Bitcoin Magazine noted that this profit-taking activity was among the factors behind its pause call for the rally, while still leaving the longer-term bull-market framing intact.

Latest closeBitcoin $83,387.33 ▼0.1%

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