Bitcoin bull market 'great validator' comes as James Wynn loses $100M
Bitcoin (BTC) is expected to maintain upward momentum despite profit-taking by holders, according to research from Santiment. The firm remains optimistic about the market outlook even as BTC/USD experienced a 10% drop. Profit-taking is viewed as beneficial for sustaining rallies, with a declining Mean Dollar-Invested Age (MDIA) indicating that older coins are being reactivated, enhancing market utility. The average holding period for coins has decreased from 443 to 426 days over six weeks, suggesting owners are locking in profits. Despite a recent price correction below $105,000, market sentiment remains bullish, with expectations of a healthy support retest. Significant BTC transactions continue, including a notable 7,000 BTC transfer attributed to a single whale. A major long position was liquidated for $99 million as prices fell, which typically leads to further price declines.
