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Bitcoin speculators hint at 'local bottom' as buyers target $117.5K

The Cointelegraph ​

Cryptocoins News / The Cointelegraph ​ 19 Views

Bitcoin profit-taking may be inadvertently revealing the next "local bottom" for BTC price, new analysis suggests.

Key points:

Bitcoin short-term holders are showing classic profit-taking behavior, sending BTC to exchanges.

Their presence among exchange inflows has reached a level associated with “local bottoms” on BTC/USD.

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