Intensified Profit-Taking Activity in Bitcoin as Realized Gains Reach $2.4 Billion
Long-term BTC holders are selling as U.S. spot bitcoin ETFs experience ongoing inflows.
Key Highlights:
- Bitcoin’s realized profit surged to $2.4 billion, with a seven-day average of $1.52 billion—the highest since May.
- The current spot price of Bitcoin is $107,180, which has remained stable between $100,000 and $110,000 since mid-May.
- Long-term holders are liquidating their BTC as U.S.-listed spot bitcoin ETFs maintain inflows.
The Bitcoin network has witnessed a surge in profit-taking activities, exerting downward pressure on Bitcoin’s price at the end of Q2. According to Glassnode, the analytics firm, on-chain realized profits hit $2.4 billion, indicating a significant uptick in profit-taking behaviors.
Profit-taking on BTC network accelerates. (Pixabay)
“That’s above the YTD average of $1.14 billion, but still well below the peaks of about $4 billion-$5 billion seen during November–December 2024,” Glassnode noted on X.
The realized profit metric reflects the total USD value of coins moved on-chain when their selling price was higher than their previous price. Furthermore, Bitcoin’s spot price decreased by 1% on Monday, hovering within established ranges over recent weeks as long-term wallet holders are divesting amid sustained interest in Bitcoin ETFs.
BTC realized profit. (Glassnode)
For a deeper dive into the dynamics affecting Bitcoin pricing, click here.
