Bitcoin price was rejected due to profit-taking and big resistance at $69,000, but breaking it would trigger over $1.6B in short liquidations.
Over 94% of Bitcoin (BTC) holders are now in profit following BTC’s recent rally above its 2021 all-time high of $69,000. But will this spark profit-taking at this key price level in the short term?
Data from market intelligence firm CryptoQuant, analyzed by independent analyst Axel Adler Jr, shows that 94% of BTC supply is currently in profit, with the “majority of coins having been purchased at the $55K level.”
Bitcoin percent supply in profit. Source: Axel Adler Jr
