Bitcoin Stretching Higher as Profit-Taking Cools — Market Talk

Bitcoin has moved above the cost bases that held it back earlier in the year and remains elevated thanks in part to a pullback in profit-taking, Glassnode analysts say in a note. The current price range between $84,000 and $85,000 has Bitcoin sitting just above a large block of long-term holder supply, the analysts say. Profit taking is a fraction of what it was when the flagship cryptocurrency was at its 2024 and 2025 highs, even though almost all short-term holders are currently in profit, they say. Bitcoin ETF buying is also picking up, while spot volume has more than doubled from its August low, the analysts say. ([email protected])