Bitcoin profit taking lingers, but rally to $115K will liquidate $7B shorts – MAXBIT

Improving US macroeconomic data gave Bitcoin price a boost, but onchain data points to prolonged profit-taking among BTC investors.

Key takeaways:

Bitcoin could turn parabolic if prices move above $115,000 to liquidate more than $7 billion in short positions.

Onchain indicators enter overheated territory, suggesting prolonged profit-taking from BTC investors.

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