Part 6/17:
Long-term holders have also begun selling off large portions of their holdings before the anticipated halving event, an unusual behavior in a typical bull run phase. This indicates potential profit-taking or market caution among seasoned investors, contributing to the perception that distribution is occurring even amid rising prices.
Market Resistance and Outlook
From a technical perspective, resistance levels are identified around $71,500, a historically significant price point where Bitcoin faced rejection earlier this year. Breaking through this would set the stage for further acceleration toward new all-time highs.