In brief On-chain data shows the third major wave of whale profit-taking since mid-2024, joined by miner sell-offs after July’s all-time high. Options traders are bracing for a pullback, targeting 10–30% downside into September. Capriole’s Edwards says Bitcoin is “undervalued,” with Q4 seasonality historically favoring strong returns. Bitcoin is caught in a tug-of-war between profit-taking...
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