With bitcoin BTC reaching new heights and nearning $100,000, profit-taking activity has surged, resulting in around $4 billion in realized profits over the last two days, according to Glassnode. However, while some retail investors are selling, it appears that for each seller there is a buyer, indicating the need for a closer examination of the overall data.

Key Insights:

• Retail investors, also referred to as "shrimps", have sold approximately 75,000 BTC valued at about $7 billion—marking the largest sell-off for this group since Bitcoin surged to over $73,000 in March.
• Conversely, the amount of bitcoin held on exchanges has dropped to just under 3 million, a level not seen in two years.
• Balances at OTC desks, however, have increased by roughly 100,000 bitcoin in the same timeframe.

Current Market Dynamics:

The retail selling trend raises questions as OTC desks continue to accumulate substantial amounts amid falling exchange balances, hinting at a possible divergence in market behaviors that merits further scrutiny.

Given this mixed market signal, analysts suggest close monitoring as more data emerges.