Daily Market Updates: Bitcoin could see a near-term correction as unrealized profit peaks

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Bitcoin could see a near-term correction as unrealized profit peaks

Reported · Written up by our desk · Market Structure

The Block reports that CryptoQuant is flagging a potential near-term bitcoin correction as traders' onchain unrealized profit margin has risen to its highest level in 21 months.

According to CryptoQuant, the extended strength in short-term traders' unrealized profits suggests downside risk in the near term, with the onchain metric now at a peak level last seen 21 months ago.

Latest closeBitcoin $83,613.51 ▲0.1%

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The BlockCryptoQuant says bitcoin correction could be near as traders’ unrealized profit hits 21-month high

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Bitcoin could see a near-term correction as unrealized profit peaks

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