Bitcoin Profit-Taking Activity Peaks as Price Fails to Reach $80K

A recent surge in Bitcoin's price above $76,000 has stalled due to short-term profit-taking by traders. Data from CryptoQuant shows that nearly 63,000 BTC was sent to exchanges, the highest level since January.

This activity is part of a natural cooling phase in momentum, according to crypto analyst Amr Taha. Meanwhile, large holders, or whales, appear to be absorbing available supply from short-term sellers, with over 71,000 BTC inflowing into accumulation addresses.

The relationship between these flows suggests a transfer of coins from weaker hands to stronger ones, which may stabilize the price while limiting an immediate rally. However, the momentum slowed after Bitcoin's price rejected near the 100-day exponential moving average (EMA), with internal liquidity levels resting around $73,000 and $72,000.