Bitcoin Momentum Stalls: Profit-Taking Pressure Emerges Despite Market Rebound

Despite a renewed market momentum, Bitcoin’s climb toward its all-time high has stalled. Sellers are regaining control as profit-taking pressure mounts, despite signs of renewed bullish sentiment. The price retreated to $118,782 after nearing the $122,867 high on Aug. 11, falling about 3% in the past 24 hours. Glassnode data suggests a shift from seller exhaustion towards a strong rebound near recent highs but also highlights an elevated risk of profit-taking.