Bitcoin is currently in a 'mild danger zone' where profit-taking among investors is a potential risk, according to Santiment. The Market Value to Realized Value (MVRV) ratio stands at +21%, indicating that most Bitcoin investors are in profit, which could lead to increased selling pressure. Bitcoin is trading at $115,800, about 6% below its recent all-time high of $124,128. Analysts from Bitfinex have noted that the lack of macroeconomic catalysts may lead to sideways price movement as the market consolidates. Many traders do not expect significant price upside in the near term, especially with substantial short positions amounting to $2.2 billion at risk of liquidation if Bitcoin returns to its all-time high. Despite the current profit-taking sentiment, Santiment reported that large holders of Bitcoin continue to accumulate, indicating a belief in potential higher price levels ahead. Investors are closely watching the upcoming US Federal Reserve rate decision on September 17, which may provide directional clarity for the market.

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