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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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- 🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
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BTC profit-taking intensity is only half of the previous historical high, indicating there is still pump space
gate News: According to Cointelegraph, since October 13th, BTC has pumped over 40%. However, traders remain confident in its pumping potential and point out that the profit-taking intensity is only about half of the previous historical high cycle.
Glassnode stated in a recent market report, "Although the profit-taking level is high, it is still below the historical high point, which indicates that there is still further pump potential before reaching potential demand exhaustion." Glassnode explained that since Bitcoin broke $73,679 on November 5th, the average daily "realized profit" has been about $1.56 billion, nearly half of the $3 billion historical high in March. The report adds, "Since entering the latest ATH discovery phase, we have observed $20.4 billion in realized profits."