Analysts cautious on BTC upside due to profit-taking pressure

Bitcoin has slipped below $80,000 amid a wave of profit-taking led by short-term holders. According to CoinDesk, analytics firm CryptoQuant suggested that while Bitcoin has rebounded 37% from its April low, the move is more akin to a relief rally than the start of a full-blown bull market. The firm warned that as unrealized profit margins grow, the potential for further selling pressure could increase. Similarly, Enflux noted that while President Donald Trump's decision to suspend military action related to the Strait of Hormuz has boosted risk-on sentiment, the rally's sustainability remains in question, citing historical precedents where such policy directions have been quickly reversed.