Historical data suggests when the bitcoin circulating supply in profit is over 94% we tend to see a sell-off due to profit-taking.

  • The last time the DXY index was above 103, it was during the Yen carry trade unwind back on Aug. 5 when bitcoin dropped to $49,000.
  • Over 94% of the bitcoin circulating supply is now sitting in profit, historical data tell us profit-taking should start to build up.
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