Bitcoin Price Faces Crucial Juncture Amid Profit-Taking and Inflation Fears

Bitcoin's recent rally has been marked by significant profit-taking, with traders cashing out nearly $1.2 billion worth of Bitcoin in a single day last week.

CryptoQuant's research suggests that this kind of selling spike during a bear market rally has historically marked a local price top.

The 37% recovery over six weeks has pushed Bitcoin to briefly touch $82,380, which aligns with the cryptocurrency's 200-day moving average – a technical marker that proved to be a wall during the 2022 bear market.