Bitcoin Holders Brace for Potential Profit-Taking as Market Uncertainty Looms

A recent report by on-chain analytics firm Glassnode reveals that long-term Bitcoin holders (LTH) holding the cryptocurrency for over six months are currently in a position to realize substantial profits, with unrealized gains exceeding 350%. Historically, these levels often trigger profit-taking actions. Trader TheKingfisher observed a large concentration of LTH positions below $91,000, while the number of short positions above current price is comparatively low, suggesting potential downside risk and lack of market momentum.