BlockBeats News: On May 22nd, on chain data analyst Murphy analyzed on chain data after BTC broke through a new high, showing that Bitcoin has achieved a profit of up to $2 billion, showing a "massive profit redemption", which 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 "decay".
Taking the second peak stage in 2021 as an example of signs of "decline", Bitcoin's first peak profit realization in 2021 also reached $2.2 billion, but the second wave was only $1.7 billion. At this time, the price did not significantly decline, but it can be seen as a "decline" in momentum. Every realization of huge profits is a huge consumption of market demand, and when the market gradually becomes unable to bear it, it will show signs of fatigue. The sharing of market views is only for learning and communication purposes and is not intended as investment advice.
