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Bitcoin's 4% dip sparks sell-off fears but data shows profit-taking, not panic selling, hinting at a possible bear trap.

Market News
10 Oct 2026, 12:00 WIB
AMBCrypto
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Bullish
Bitcoin's 4% dip sparks sell-off fears but data shows profit-taking, not panic selling, hinting at a possible bear trap.

Bitcoin dropped over 4% after a rally, raising concerns about a sell-off. Data from CryptoQuant shows some short-term holders are taking profits, but many are selling at a loss, which could signal early capitulation. However, Santiment's report contradicts this, indicating holders have realized $3.3 billion more in profits than losses recently, suggesting the dip is mainly profit-taking, not panic selling. Strong buying interest, including large whale orders and Fidelity's $354 million BTC purchase, supports the idea that this correction might be a bear trap rather than the start of a downturn.

Bitcoin trades at Rp1.479.156.753 on Pluang as of Oct 10, 2026 16:21 WIB, showing a slight 0.21% gain in the last day. The platform records a strong buying interest with 70% of orders as buys. Typical holding time on Pluang is 111 days, indicating a relatively patient investor base amid current market movements.

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