Bitcoin has dropped over 7% to below the $115,000 mark after reaching a peak of over $124,000. This decline follows a weekend where traders realized more than $3.5 billion in profits, according to data from Glassnode.

On Saturday alone, approximately $3.3 billion was taken in profits, marking the highest figure for a single day since mid-July.

Most of this year, profit taking has occurred almost daily, reflecting Bitcoin’s steady rise from $90,000 at the beginning of 2025.

This downward trend follows Bitcoin’s all-time high of $124,000 earlier in August. Each successive correction this year has been less severe, indicating resilience in the market: January saw a 30% drop, May experienced a 12% decline, July’s correction was 9%, and now August’s pullback stands at 8%.