Bitcoin rally is taking a breather near $75,000. Onchain data shows why

What Happened

Bitcoin has gained nearly 10% this month but faces resistance near $75,000. On-chain data shows holders are selling into strength, with the 30-day realized profit/loss ratio at 1.16, indicating profit-taking activity. Tuesday saw approximately $1.14 billion in profits realized. Demand remains concentrated on Binance, while other exchanges show weaker activity. Funding rates stay slightly negative, suggesting traders remain cautious and markets are consolidating rather than overheating.

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