1139 ET - Recent buyers of Bitcoin used the cryptocurrency's latest price run-up to sell and lock in quick profits, according to an analysis by Glassnode. On Sunday, 86% of bitcoin that moved onto exchanges, a move that typically comes when a crypto asset will be sold, came from short-term holders, the analysts say. That's the highest level in more than a year, they say. If this kind of quick-profit selling continues, it will create a wall of supply at the $85,000 level that will be hard to push past, the analysts say. If Bitcoin slips into the $81,700 to $83,300 range, traders that made leveraged bets on the price to go up will have to sell to cover their losses, pushing the price even lower, the analysts say.
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