Bitcoin short-term holder sales near $5B as profit-taking mimics 2021

Bitcoin (

Analyzing what lies in the way, meanwhile, Philip Swift, creator of statistics resource Look Into Bitcoin, highlighted Fibonacci retracement levels which have featured in previous Bitcoin bull markets.

Swift relayed the Golden Multiplier Ratio metric which he created in 2019 to track price cycle highs.

“These lower fibs have historically acted as resistance in early bull markets. x1.6 (green line) currently at $43,739 and climbing,” he told subscribers on X (formerly Twitter) this week.

Swift added that the higher levels have “successfully identified every Bitcoin cycle high to date.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.