Bitcoin holders cut profit-taking by 60%—Are they waiting for $120K? – BitRss

• BTC ($97,912.86) has made a moderate price hike over the past day, rising by 1.02%.
• Bitcoin’s long-term holders have reduced selling by 60% as they eye $120k.

Although Bitcoin’s [BTC] has struggled to reclaim higher resistance, long-term holders remain in profit. Despite profitability remaining intact for long-term holders, they have reduced their profit taking, according to Axel Adler.

In his analysis, Adler observed that long-term holders have reduced their spending by 60% compared to the $90-100k level. At the current rates, it’s down by 40k BTC per day.