Bitcoin’s recent rally to $90,000 has prompted some long-term holders (LTHs) to take profits, according to a Nov. 16 report by CryptoQuant analyst Percival. These holders, who have kept their Bitcoin for over 155 days, view $90,000 as a “first target” rather than waiting for a six-figure price.
Bitcoin broke its $73,800 all-time high on Nov. 5 and reached $93,215 on Nov. 13 after consolidating between $53,000 and $72,000 for nearly seven months. Currently, BTC trades at $89,945, with long-term holders seizing the opportunity to lock in gains while momentum remains strong.
Source: Cointelegraph
