Bitfinex reports: Long-term Bitcoin holders are starting to take profits
Online reports, Bitfinex reported that unprecedented capital inflows from Bitcoin ETFs and strong institutional demand have pushed Bitcoin close to the historic $100,000 mark, but long-term holders (LTH) have also begun to take profits. Despite facing profit-taking resistance near $99,334, its latest all-time high, BTC showed resilience, holding steady around $96,000 over the weekend before regaining some momentum in early trading on Monday. Since its pre-election low of $66,880, BTC has now risen 47% and has risen 130% so far this year. BTC's excellent performance relative to traditional assets is undeniable: Bitcoin's market value has now surpassed Saudi Aramco, consolidating its status as the world's seventh-largest asset, with a valuation of up to more than $1.9 trillion.
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