Bitcoin Profit-Taking Spikes: 110k BTC Sold as Price Slips Below $80k

Bitcoin's explosive August rally has led to profit-taking among investors, resulting in the disposal of approximately 110,000 BTC ($80,042.00 · Live) over a few weeks.

CryptoQuant data shows that on August 21, holders realized net profits of 23,000 BTC, which became the largest single-day profit realization this year.

This significant profit-taking has historically been followed by substantial price corrections for the underlying asset, according to analysts. Several demand indicators have weakened, contributing to selling pressure.