Bitcoin Drops to $93K as Holders Lock in Profits

The post Bitcoin Drops to $93K as Holders Lock in Profits appeared first on Coinpedia Fintech News

Bitcoin has slipped to $93,000 after nearly hitting the $100,000 mark, as long-term holders take profits. Data shows these holders shifted from accumulating to selling in late September, following months of reducing market supply and driving prices higher. The Market Value to Realized Value (MVRV) Ratio has now entered the “euphoria” zone, signaling an overheated market. Historically, this has preceded sharp corrections. Bitcoin recently surged to $98,200 on November 21, fueled by the U.S. election and April’s halving. However, rising selling pressure and increased speculative activity suggest the market may face further pullbacks soon.