BTC near-term price peak claimedahead of US election

According to The Block, crypto custody firm Copper released a report that suggests Bitcoin may have reached a near-term price peak ahead of the U.S. presidential election. “On-chain indicators are showing signs of market overheating,” the report said, noting that ”98% of Bitcoin wallet addresses are currently in profit. Historically, when this percentage rises (recently 75%), there is often selling pressure from investors looking to lock in profits. This could be interpreted as a sign that Bitcoin is nearing a near-term top.”