Bitcoin price likely to hit $130K before serious profit taking kicks in

Soaring capital inflows and an uptick in Bitcoin wallets identified as “accumulators” suggest BTC price is on a path to $130,900.

Key takeaways:

Bitcoin rallied to $113,800 as onchain data shows a 71% surge in the BTC holdings of accumulator addresses.

Bitcoin’s MVRV metric suggests that meaningful profit-taking may not begin until BTC hits $130,900.

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