Crypto markets are seeing a sharp pullback in recent weeks, but onchain data indicates potential buying opportunities amid elevated profit-taking.
What Happened: Glassnode data shows the dip is driven largely by long-term investors taking profits. While sentiment appears negative, the conditions could present a favorable entry point for patient traders.
Bitcoin (CRYPTO: BTC) has seen more than $1.5 billion in profits realized since July 18, marking the largest profit-taking since December 2024.
Trader Ted Pillows noted that despite minor 2–3% …