Bitcoin rally faces profit-taking risk

Bitcoin's recent surge past $76,000 is now encountering increased profit-taking pressure, according to CryptoQuant. On-chain data reveals a significant uptick in Bitcoin inflows to exchanges, suggesting that large holders are moving their assets to potentially sell. This trend, coupled with Bitcoin testing a key resistance level around $76,800, indicates a heightened probability of near-term selling activity. Factors contributing to the rally included undervaluation, a temporary de-escalation of geopolitical tensions, and a weaker U.S. dollar, but these may not be enough to sustain the upward momentum against the current selling pressure.