The popular crypto analyst PlanB believes Bitcoin (BTC) may not see a market correction until after breaking into the six-figure range due to one key metric.
The pseudonymous trader tells his 2 million followers on the social media platform X that Bitcoin holders appear to be selling ahead of a possible $100,000 price target.
According to the analyst, the Bitcoin profit-taking may actually mean a significant dip at the six-figure target will not occur.
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“Who sells Bitcoin now? Easy: sellers are profit-takers. On average November sellers sold at more than 60% profit (red) with a cost price of $55,000. I guess people expect a dip at $100,000 and are front-running that expected $100,000 dip. This might mean there won’t be a $ 100,000 dip!”
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