After months of waiting, Bitcoin has surpassed the $90,000 mark, marking a historic turning point in its growth trajectory. Yet what is surprising is not just the price, but the reaction of traders. Usually at these price levels, profit taking explodes. But not this time. For what ? Because investors are clutching their precious coins as if they were holding tickets to a trip to the Moon.
Sluggish profit taking: a telling sign
Since March's peak at $73,679, Bitcoin has made an impressive jump, passing the symbolic $90,000 mark. One might expect a deluge of sales to reap the profits.
Yet Glassnode, the crypto analytics firm, points out that profits made remained relatively small, about half of those seen in previous record cycles.
With $20.4 billion in profits made since this new all-time high (ATH) discovery phase, the volume taken remains below the $3 billion per day recorded during the previous peak.
Why this restrained enthusiasm? The answer seems simple: trust. Traders perceive this rise as a simple chapter in an unfinished book. Profits made “below historic highs” reveal a desire to hold on and aim higher. Glassnode states it bluntly: this restraint could be a sign that the market has not yet reached its peak.
Trader optimism: a rise far from over
Bitcoin has soared more than 40% since October 13, a figure that would make any traditional stock market investor green with envy.
Donald Trump's presidential victory reinforced a climate of confidence that propelled Bitcoin above $85,000 on November 11, with an impressive jump of $8,400 in a single day, a record in itself.
Despite this rise, the calm of traders is intriguing. “Spectacular that after such a surge, Bitcoin maintains its level,” commented Cory Klippsten, CEO of Swan Bitcoin.
Iconic figures in the crypto world share this vision. Robert Kiyosaki recently announced that he will continue accumulating Bitcoin until he hits the $100,000 mark. For him, patience is the key, far from “trembling hands” who sell at the slightest peak.
What if all this was just the beginning? The massive injection of $850 billion into the national debt by American politicians fuels a feeling of distrust towards the traditional system. Anthony Pompliano is not wrong when he speaks of a “race to the sky between debt and the price of Bitcoin”.
Faced with this, the fact that traders are holding their positions almost seems logical. They are betting on a Bitcoin which, like the famous turtle in the fable, is slowly but surely advancing towards never-before-reached heights.
Ultimately, Bitcoin is poised to continue its run. Moderate profit taking is not a sign of weakness, but of unwavering confidence. Traders don't sell. They are preparing, perhaps, for the next step: a leap into the unknown and, who knows, $100,000 or more. After all, why settle for the Moon when Mars is within reach?
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