Bitcoin Faces Potential Sell-Off Near $120,000 As Profit-Taking Rises, Glassnode Warns
Posted On May 29, 2025
Bitcoin‘s (CRYPTO: BTC) steady rally to a new all-time high of $111,000 may soon face significant headwinds, according to new on-chain data from Glassnode.
What Happened: The analytics firm highlights $120,000 as a critical price level where historical trends suggest a sharp increase in sell-side pressure is likely to emerge.
The report finds that investor profitability has risen sharply since the recent breakout, with on-chain models showing parallels to previous market tops.
Key indicators such as unrealized profits, spending behavior and exchange inflows all suggest a growing willingness among investors to …
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