Bitcoin price rebound sends profit taking deals to 2-month high
Bitcoin rose to highs above $26,800 on Thursday, before profit taking pushed kicked in to see it trade lower. An analyst says price below the 200-week MA represents buying opportunity. Meanwhile, address activity remains high, with 1.1 million BTC send or received daily. Bitcoin spiked above$26,800 overnight Thursday as bulls bounced to hit its highest level since the decline to below $25k on Monday. Traders eye profits after BTC bounce With Friday looking likely to see a fourth consecutive green candle, the push to above $26,849 illustrated bulls’ resilience in a historically tough September. However, the rise in profit ratio over the past three days has also seen BTC face a spike in profit taking deals. On-chain data shared via a chart by market intelligence platform Santiment shows that traders took advantage of the upside bounce to pinch small profits. Per the data, Thursday saw the highest ratio of profit vs. loss taking in two mon...