Bitcoin holders have been increasingly taking profits as the cryptocurrency’s price reached record highs and flashed a key bullish signal in recent weeks. The 50-day simple moving average (SMA) crossing above the 200-day SMA on May 22 confirmed a golden cross, indicating bullish long-term momentum for Bitcoin. This milestone coincided with Bitcoin’s price surging above $111,000, marking a new all-time high.
According to on-chain data tracked by Glassnode, Bitcoin holders have been locking in profits rather than holding for further upside. Glassnode reported that entity-adjusted realized profit spiked above $500 million per hour three times in the past 24 hours, signaling intense profit-taking activity. The entity-adjusted realized profit metric represents the total USD profit of all coins that have been moved on-chain at a price lower than the latest transaction price.
The chart provided by Glassnode shows that profit-taking activity has steadily increased since the second half of May, with profits exceeding $500 million multiple times. This level of profit-taking is the most intense since early February. Other metrics, such as the entity-adjusted spent output profit ratio (SOPR), also suggest a similar trend. SOPR tracks the profit level of all moved coins during a given period, and its entity-adjusted version provides a reliable indicator of real economic activity.
Glassnode’s weekly report highlighted that the recent all-time high breakout led to a notable uptick in profits being locked in, with the average coin capturing a profit of around 16%. This suggests that fewer than 8% of trading days have been more profitable for investors, indicating a significant transition into profit-taking activity. However, the report noted that the current profit-taking is not as intense as seen during prior major price-topping patterns.
As of the latest data, Bitcoin was trading at around $105,600 amid reports of President Donald Trump’s Truth Social platform moving closer to offering a bitcoin exchange-traded fund to everyday investors. This news could potentially impact Bitcoin’s price and further influence profit-taking behavior among holders. Bullish Group, a prominent player in the blockchain and digital asset industry, is majority owned by Block.one. Both companies have interests in a variety of blockchain and digital asset businesses and hold significant amounts of digital assets, including bitcoin. CoinDesk, an independent subsidiary of the Bullish Group, is a leading platform for cryptocurrency news and analysis.
To ensure journalistic integrity, CoinDesk has established an editorial committee chaired by a former editor-in-chief of The Wall Street Journal. This committee will oversee the publication’s content and uphold high standards of reporting in the rapidly evolving world of blockchain and digital assets.
As the cryptocurrency market continues to grow and evolve, Bullish Group and Block.one remain at the forefront of innovation and investment in the industry. Their strategic partnerships and holdings in various blockchain projects position them as key players in shaping the future of digital finance.
With a focus on transparency, integrity, and cutting-edge technology, Bullish Group and Block.one are driving the development of new financial ecosystems powered by blockchain technology. Their commitment to advancing the adoption of digital assets and blockchain technology underscores their position as leaders in the industry. CoinDesk, a prominent digital asset media outlet, upholds a stringent set of editorial policies to maintain the integrity, independence, and impartiality of its journalistic endeavors. As a member of the Bullish group, CoinDesk is committed to delivering unbiased and accurate news coverage in the ever-evolving world of digital assets.
In order to safeguard the credibility of its publications, CoinDesk has implemented a comprehensive set of principles that guide its editorial decision-making process. These principles serve as a framework to ensure transparency, fairness, and accountability in all aspects of its reporting. By adhering to these guidelines, CoinDesk aims to uphold the highest standards of journalistic ethics and provide its readers with reliable and trustworthy information.
One of the key tenets of CoinDesk’s editorial policies is to maintain editorial independence from outside influences. This means that journalists are free to pursue stories and report on issues without interference or pressure from external sources. By upholding this principle, CoinDesk strives to deliver news coverage that is objective, impartial, and free from bias.
Additionally, CoinDesk is transparent about its relationship with the Bullish group, which owns and invests in digital asset businesses and assets. It is important for readers to be aware of this connection, as it may impact the content and coverage of certain stories. CoinDesk employees, including journalists, may receive equity-based compensation from the Bullish group, but this does not compromise their journalistic integrity or independence.
Overall, CoinDesk is dedicated to upholding the highest standards of journalism and ensuring that its readers have access to accurate and unbiased information. By adhering to its editorial policies and principles, CoinDesk aims to foster trust and credibility within the digital asset community and beyond. The Benefits of Mindfulness Meditation
In today’s fast-paced and stressful world, many people are turning to mindfulness meditation as a way to find peace and balance in their lives. Mindfulness meditation is a practice that involves focusing on the present moment and accepting it without judgment. By cultivating mindfulness, individuals can improve their overall well-being and mental health.
One of the key benefits of mindfulness meditation is its ability to reduce stress. When we are constantly worrying about the past or the future, our bodies respond by releasing stress hormones that can have a negative impact on our physical and mental health. By practicing mindfulness meditation, we can learn to let go of these worries and focus on the present moment, which can help to reduce stress levels and promote a sense of calm and relaxation.
In addition to reducing stress, mindfulness meditation can also help to improve our mental clarity and focus. By training our minds to stay present and focused on the task at hand, we can improve our concentration and productivity. This can be especially beneficial for those who struggle with racing thoughts or difficulty concentrating.
Furthermore, mindfulness meditation has been shown to improve sleep quality. By practicing mindfulness before bed, individuals can calm their minds and bodies, making it easier to fall asleep and stay asleep throughout the night. This can lead to improved overall health and well-being, as sleep plays a crucial role in our physical and mental health.
Another benefit of mindfulness meditation is its ability to increase self-awareness and emotional intelligence. By tuning into our thoughts and feelings without judgment, we can better understand ourselves and our reactions to various situations. This can help us to develop greater self-awareness and emotional resilience, allowing us to navigate life’s challenges with greater ease and grace.
Overall, mindfulness meditation offers a wide range of benefits for both our physical and mental health. By practicing mindfulness regularly, individuals can reduce stress, improve focus and concentration, enhance sleep quality, and increase self-awareness and emotional intelligence. With so many benefits to be gained, it’s no wonder that mindfulness meditation has become a popular practice for those looking to find peace and balance in their lives. It’s no secret that the fashion industry is constantly evolving and changing. From new trends and styles to innovative materials and technologies, there’s always something new to keep up with. One of the latest trends that has been making waves in the fashion world is the rise of sustainable fashion.
Sustainable fashion is all about creating clothing and accessories in a way that minimizes the impact on the environment and promotes ethical practices throughout the supply chain. This includes using eco-friendly materials, reducing waste, and ensuring fair labor practices are in place.
One of the key elements of sustainable fashion is the use of organic and recycled materials. This includes materials like organic cotton, hemp, and bamboo, which are grown without the use of harmful pesticides and chemicals. These materials are not only better for the environment, but they also tend to be more durable and long-lasting than their conventional counterparts.
Another important aspect of sustainable fashion is reducing waste. This can involve everything from using leftover fabric scraps to create new garments, to designing clothing that is made to last for years to come. By creating pieces that are timeless and well-made, designers can help reduce the amount of clothing that ends up in landfills each year.
In addition to using eco-friendly materials and reducing waste, sustainable fashion also focuses on promoting fair labor practices. This means ensuring that workers throughout the supply chain are paid fairly, have safe working conditions, and are treated with respect. By supporting brands that prioritize ethical practices, consumers can help create a more sustainable and equitable fashion industry.
Overall, sustainable fashion is not just a passing trend – it’s a movement towards a more conscious and responsible way of consuming fashion. By supporting brands that prioritize sustainability, consumers can help make a positive impact on the environment and promote a more ethical fashion industry for generations to come. So next time you’re looking to update your wardrobe, consider choosing sustainable fashion options that are not only stylish, but also better for the planet. The Benefits of Regular Exercise on Mental Health
Regular exercise is not only beneficial for physical health but also plays a significant role in improving mental health. Research has shown that engaging in physical activity can help reduce symptoms of anxiety, depression, and stress. Here are some of the key benefits of regular exercise on mental health:
1. Releases “Feel-Good” Chemicals: When you exercise, your body releases endorphins, which are often referred to as “feel-good” chemicals. Endorphins are neurotransmitters that act as natural painkillers and mood elevators. They can help reduce feelings of stress, anxiety, and depression, and promote a sense of well-being.
2. Improves Sleep: Regular exercise has been shown to improve the quality of sleep. Physical activity helps regulate your body’s internal clock, making it easier to fall asleep and stay asleep throughout the night. Adequate sleep is crucial for mental health, as it allows your brain to rest and recharge.
3. Boosts Self-Confidence: Engaging in regular exercise can boost your self-esteem and confidence. As you set and achieve fitness goals, you’ll feel a sense of accomplishment and pride in your abilities. This can translate into other areas of your life, giving you the confidence to tackle challenges and overcome obstacles.
4. Reduces Anxiety and Depression: Exercise has been shown to reduce symptoms of anxiety and depression. Physical activity can help distract you from negative thoughts and feelings, and provide a healthy outlet for stress and tension. It also increases the production of neurotransmitters like serotonin and dopamine, which play a role in regulating mood.
5. Enhances Cognitive Function: Regular exercise has been linked to improved cognitive function and mental clarity. Physical activity increases blood flow to the brain, which can help improve concentration, memory, and problem-solving skills. It also stimulates the growth of new brain cells, which can enhance overall brain function.
6. Provides a Social Outlet: Exercise can also provide a social outlet, allowing you to connect with others and build a support system. Whether you join a group fitness class, participate in team sports, or simply go for a walk with a friend, exercising with others can help combat feelings of isolation and loneliness.
In conclusion, regular exercise is a powerful tool for improving mental health. Whether you’re struggling with anxiety, depression, stress, or simply looking to boost your mood, incorporating physical activity into your routine can have a positive impact on your mental well-being. So lace up your sneakers, hit the gym, or go for a run – your mind will thank you for it. There is no specific prompt given. Can you please provide more details or a topic for the article?