Analysis: BTC's "huge profit cashing" after reaching a new high is a typical bull market sprint signal

Odaily Planet Daily News: On-chain data analyst Murphy published an article analyzing the on-chain data after BTC broke through a new high. The data showed that Bitcoin has realized a profit of up to 2 billion US dollars, and the emergence of "huge profits cashed out" is a very typical bull market sprint signal. The higher the magnitude, the stronger the potential energy. It is recommended not to be bearish at this time unless there are signs of "attenuation". Taking the second peak stage in 2021 as an example of "attenuation" signs, Bitcoin's first peak profit in 2021 also reached 2.2 billion US dollars, but the second wave was only 1.7 billion US dollars. At this time, the price did not fall significantly, but it can be regarded as a kind of potential energy "attenuation". Every realization of huge profits is a huge consumption of market demand, and when the market gradually cannot take it up, it will show fatigue.