Bitcoin Targets $90K, but Bulls Face a Crucial Test

 Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://telegram.me/progrouptraders

Losing the $75,000 to $76,000 zone could put newer holders under pressure and accelerate even more selling.

Bitcoin (BTC) slipped back below $80,000 after testing the level again, with XWIN Japan pointing to profit-taking by existing holders as a major barrier on August 26.

The next move may depend less on another brief test of $80,000 and more on whether fresh demand can absorb units being sold by investors sitting on gains.

Profit-Taking Puts BTC’s $80K Test Under Pressure
XWIN Japan noted that nearly every Bitcoin investor group has returned to profit as the cryptocurrency approached $80,000. Its unrealized PnL reading stood at 21.1 for long-term holders, 13.4 for short-term holders, 13.9 for investors holding for one day to one month, and 5.3 for the newest buyers. That creates a familiar problem during a fast recovery: more profitable holders have a reason to sell.

The post also pointed to the SOPR Ratio, which compares profit-taking by long-term holders with that of short-term holders. The ratio briefly reached 1.4 as BTC neared $80,000, suggesting long-term holders were realizing profits at a higher relative rate. However, it has since fallen to 0.93, meaning short-term holders are now showing stronger realized performance relative to long-term holders.

As per XWIN, any sustained breakout above the $80,000 mark, coupled with rising ETF and spot demand, might be one way through which Bitcoin can reach the $88,000-$90,000 price point. However, it pointed out that the $75,000-$76,000 mark is the level to pay attention to if prices decline further. Failure at this level may make it difficult for the short-term holders to earn a profit, which, in XWIN’s opinion, could speed up the correction.

40% Profit on #BTR/USDT through the Cornix Bot

Our team is the best in the trading market, with a deep understanding of market behavior and trends.

We have a skilled team of full-time crypto traders who are experts in market analysis and trading.

Visit the link above to see our stats, the accuracy of our signals, and testimonials from our members.