CryptoQuant Analyst: BTC Selling in the Past 24 Hours Below Historical Average

According to a report by Jinse Finance, CryptoQuant analyst Axel Adler Jr disclosed that in the past 24 hours, short-term holders have sold an average of about 21,000 bitcoins through centralized exchanges (CEX), which is below the historical average selling pressure level. This indicates that despite the rise in bitcoin prices, short-term holders are currently in a relatively calm state and are not in a rush to lock in profits on a large scale. The analyst pointed out that $120,000 will become the next psychological milestone for many market participants. As the price approaches this boundary, profit-taking activities may increase. Similar reactions have been observed multiple times whenever bitcoin reaches an integer price level.