Long-term Bitcoin (BTC) holders have started taking profits since the cryptocurrency price attempted to reach $100,000. As a result, Bitcoin’s price has retraced to $93,000, affecting the value of the broader crypto market capitalization.

Is Bitcoin’s price rebounding? Short-term investors may want to know as this on-chain analysis examines the chances.

Activity Around Bitcoin Drops, Holders Book Gains

According to CryptoQuant, Bitcoin’s long-term profit output ratio has surged to 2.86. This ratio measures the activity of long-term investors who have held the coin for more than 155 days.

When the ratio is over 1, it means that these long-term Bitcoin holders are selling at a profit. On the other hand, if the profit output ratio is less than 1, it implies that holders are selling at a loss. Since the reading is higher, it indicates that these holders are booking profits from the recent price hike.

Besides that, it is noteworthy to mention that this profit-taking is the highest holders have taken since August 30. Should this continue, then BTC price risks falling below the $93,000 threshold.

Beyond that, active addresses on the Bitcoin network have significantly decreased this week, which could spell trouble for the cryptocurrency’s price if the trend persists. Active addresses measure the number of unique addresses involved in transactions, reflecting user engagement with the blockchain.

When active addresses increase, it indicates growing network activity and adoption. Conversely, a decline suggests reduced participation.

On November 26, Bitcoin’s active addresses were nearly 1 million, showcasing significant traction. However, as of this writing, the figure has dropped to 768,000, a noticeable decline. If active address activity continues to wane, it may signal weakened market sentiment and could contribute to further price declines, as previously highlighted.

BTC Price Prediction: Time to Go Below $90,000?

On the daily chart, Bitcoin’s price has fallen below the dotted lines of the Parabolic Stop and Reverse (SAR) indicator. This technical tool identifies support and resistance levels.

Dotted lines below the price signal strong support, while lines above the price suggest resistance that could lead to a decline. Currently, Bitcoin faces the latter scenario.

If this resistance persists, BTC could drop to $84,640. However, if long-term holders reduce profit-taking, Bitcoin’s value might rise instead, potentially reaching $99,811.

Swiss wealth manager 21Shares has introduced four new crypto exchange-traded products in Europe, broadening its range of digital asset investment options. 

The latest additions focus on AI and decentralized computing projects Pyth Network, Ondo, Render, and NEAR Protocol. 

The asset manager is seeing an increased demand from institutional investors for next-gen decentralized technologies. The four tokens represent the firm’s extended entry into four distinct sectors: price oracles, asset tokenization, decentralized computing, and AI. 

According to the announcement, investors in the NEAR ETP will be able to reinvest staking rewards directly into the product. NEAR’s proof-of-stake blockchain model supports network security through token staking, which generates yields for participants. 

The new ETPs will be available for trading on exchanges in cities like Amsterdam and Paris. The firm has been constantly improving its crypto ETP offerings throughout Europe. 

Earlier this week, 21Shares upgraded its Ethereum Core ETP to include staking capabilities. The product now operates under the name Ethereum Core Staking ETP and trades with the ticker ETHC.

“The 21Shares NEAR Protocol Staking ETP offers investors a regulated and transparent way to gain exposure to one of the most scalable smart-contract platforms, designed to simplify the complexity of crypto infrastructure while pushing the boundaries of decentralized AI integration,” the firm wrote on its press release. 

This enhanced version offers investors the opportunity to earn staking rewards while maintaining exposure to Ethereum. It is listed on leading European exchanges, including the SIX Swiss Exchange, Deutsche Börse Xetra, and Euronext Amsterdam.

Increasing Activity in the Crypto ETP Market

21ShareThe crypto ETP market is experiencing a surge in activity. Bitwise recently rebranded its XRP ETP to “Bitwise Physical XRP ETP (GXRP)” following Ripple’s strategic investment. This product provides secure, physically backed XRP exposure for European investors. 

Also, Bitwise launched its Aptos Staking ETP on the SIX Swiss Exchange, offering regulated access to Aptos staking in Europe.

Meanwhile, WisdomTree introduced an XRP-backed ETP across Germany, Switzerland, France, and the Netherlands. This product aims to attract investors with low-cost exposure to XRP’s spot price. 

WisdomTree also filed for an XRP ETF in the US earlier this week. Trump’s re-election and the resignation of SEC chain Gary Gensler have renewed optimism about Ripple’s cryptocurrency. 

Hedera’s (HBAR) price has surged 182.56% in the last 30 days, but recent indicators suggest that its uptrend is losing momentum. The ADX has dropped sharply, signaling a significant weakening in trend strength despite the uptrend still being intact.

The Ichimoku Cloud and EMA lines also indicate potential risks, with HBAR nearing critical support levels and a possible death cross forming.

HBAR Uptrend Is Quickly Losing Its Steam

Hedera ADX has dropped to 26.2 from over 60 just three days ago, signaling a significant decline in trend strength. The ADX, or Average Directional Index, measures the strength of a trend, regardless of direction, on a scale from 0 to 100. Values above 25 indicate a strong trend, while values below 20 suggest a weak or no trend.

The sharp decrease reflects that while HBAR remains in an uptrend, its momentum has significantly weakened.

With the ADX hovering just above 25, HBAR current uptrend is still intact but far less strong than it was at higher ADX levels. This suggests a potential consolidation phase as bullish momentum slows. For the uptrend to regain strength, the ADX would need to rise again, supported by increased buying pressure.

However, if the ADX continues to decline, it may signal a further weakening of the trend, increasing the risk of a reversal.

Ichimoku Cloud Shows The Trend is Reverting

The Ichimoku Cloud chart for Hedera shows the price currently sitting near the Kijun-Sen (orange line) and Tenkan-Sen (blue line), indicating a consolidation phase after its recent rally.

The price is not above the cloud anymore, suggesting the trend could reverse soon.

If HBAR holds above the Kijun-Sen and bounces back, it could resume its uptrend, confirming the bullish sentiment.

Conversely, if the price continues dipping below the cloud, it could signal a trend reversal, with increased selling pressure potentially driving further declines.

HBAR Price Prediction: A Downtrend Could Bring A Strong Correction

Hedera EMA lines indicate that the current uptrend may soon reverse, as the shortest EMA line is nearing a crossover below the longer-term line.

This formation, known as a death cross, is a strong bearish signal and could trigger increased selling pressure. If the death cross materializes, Hedera price is likely to test support at $0.117, and if this level fails, the price could drop further to $0.052.

On the other hand, if HBAR price regains its bullish momentum and avoids the death cross, it could test key resistances at $0.158 and $0.17. Breaking through these levels would likely push the price toward $0.2, representing a 48% potential upside.