According to CoinMeta, when Bitcoin recently rebounded to around $65,000, the pressure to take profits on-chain has significantly weakened: the ASOPR indicator has been below 1 for 10 consecutive trading days, long-term holders have seen an average of SOPR of about 0.83 in the past week, while short-term holders have been near break-even for 36 consecutive days. Bitfinex believes that the current profit margin for sellers is narrowing, but BTC is still hindered by the range between $65,000 and $65,700, which is not sufficient to confirm a trend reversal.