Bitcoin achieves net profit of 208 million, setting a new high for the month

Bitcoin achieved a net profit of $208 million on Sunday, the highest level in a month. After Bitcoin broke through the $80000 mark for the first time, on chain data showed a large amount of profit taking, but the market still absorbed about $200 million in selling pressure, and the price continued to rise. Analysis indicates that this profit-making behavior usually occurs during periods of strong price, where Bitcoin sold by old holders for $80000 is taken over by new buyers, resulting in an increase in the average cost price in the market. （Santiment）