Bitcoin Bull Market Returns Amid Rising Profit-Taking

Bitcoin has reclaimed its 365-day moving average, reaching an eight-month high of $87,400. CryptoQuant research indicates a shift to a bull market, with its Bull Score Index reaching 90 out of 100. However, short-term holders are seeing unrealized profit margins of 33%, the highest level since December 2024. This has triggered significant profit-taking, with 25,700 BTC (approximately $2.2 billion) realized in a single session, marking the largest sell-off day of the year. Analysts suggest potential support zones for a pullback at $80,000, $71,000, and $67,000.