CryptoQuant: Bitcoin may continue to see profit-taking, and the bear market rebound is not yet over

On-chain analytics firm CryptoQuant stated that with the recent price increase, profit-taking behavior in the Bitcoin market may further increase.

Data shows that Bitcoin has risen over 20% since early April, but the firm still defines this market movement as a "bear market rally." The current profit metric for short-term holders remains above 1, indicating that the market has been in a continuous profit-taking phase since mid-April. Analysts believe that although selling pressure is rising, a price correction may still take time to manifest.