EMC Labs: The first wave of large-scale selling in the bull market is about to end, laying the foundation for the next phase of price increases

ChainCatcher news, EMC Labs released the March report indicating that investors began large-scale selling on February 26, leading to a decline in Bitcoin prices. The sell-off was divided into two phases: in the first half, the price rose from $51,730.96 to $71,475.93, while in the second half, the price fell to $60,771.74. Overall, sellers locked in nearly $63.1 billion in profits.

The report suggests that the selling pressure is weakening, signaling the end of the first wave of large-scale sell-offs in the bull market, laying the groundwork for the next phase of price increases. This wave of large-scale selling before the halving has cleared a significant amount of profit-taking positions, raising the cost basis of BTC, which will help in the price increase in the next phase. For long-term investors, it is advisable to take a cautious yet proactive approach to go long.