Bitcoin

<ul><li>On-chain data shows short-term Bitcoin holders&#39; profit-taking at levels not seen since April, suggesting a potential rally pause.</li><li>Bitcoin whales are increasing their spending, reaching levels unseen since June, impacting market liquidity and pricing.</li><li>Analysts observe profit-taking by short-term holders and increased whale activity, suggesting a possible pause in Bitcoin&#39;s rally.</li></ul>Following the recent surge in <a href="https://cryptotale.org/?s&#61;Bitcoin" rel="noopener noreferrer nofollow">Bitcoin&#39;s price</a>, two significant on-chain developments have caught the attention of analysts. Short-term holders are selling at profit margins not witnessed since April. Besides, cryptocurrency &#39;whales&#39; are showing an uptick in spending, with levels unseen since June. Consequently, these actions might indicate a forthcoming lull in Bitcoin&#39;s rally.The &#34;Bitcoin: Short Term Holder SOPR&#34; chart underscores this trend. Significantly, this metric, known as the Spent Output Profit Ratio (SOPR), tracks the profits or losses of recent Bitcoin holders. During the highlighted period, these holders cashed out with a 6% profit, the steepest since April. Hence, this behavior suggests that newcomers in the crypto arena were keen on cashing in, possibly driven by favorable <a href="https://cryptotale.org/?s&#61;&#43;market" rel="noopener noreferrer nofollow">market</a> vibes or the preceding price hike.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/b3943b165d6943cc935b4003914ff897.png" />Additionally, a second illustrative tool, the &#34;Bitcoin: Spent Output Value Bands,&#34; sheds light on Bitcoin&#39;s movement across various price bands. Here, a sharp increase in &#39;whale spending&#39; stands out, recording the highest daily levels since June.In the crypto domain, &#39;<a href="https://cryptotale.org/?s&#61;whales" rel="noopener noreferrer nofollow">whales</a>&#39; refer to heavy hitters possessing vast digital currency. Such a marked rise suggests that these influential market players are either strengthening their holdings or branching out. Moreover, these moves can significantly affect market liquidity and overall pricing.Read full article at <a href="https://cryptotale.org/bitcoins-on-chain-activity-indicates-potential-rally-pause/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Bitcoin's On-chain Activity Indicates Potential Rally Pause

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