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You are currently viewing Bitcoin May Pause After Fresh Highs As Some Holders Pocket Gains – Data

Bitcoin looks set for a pause. Prices climbed to a fresh high, and now the market is showing signs of short-term cooling as some investors lock in profits.

Related Reading Price Pullback And Recent Rally

Bitcoin was trading at $115,550 when this report was written, about 6% shy of its all-time high of $124,201 reached on Wednesday.

The top crypto asset was up roughly 10% in the nine days leading up to that peak. That quick run-up helped push prices higher, but it also left some traders looking for a breather.

Analysts say the recent rally quickly fizzled out without fresh macro drivers to keep it going.

MVRV Signals Some Caution

According to Santiment, the Market Value to Realized Value (MVRV) ratio sits at +21%. That means the average holder who bought over the past year is in profit, and many could be tempted to sell.

That figure isn’t an

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