BlockBeats News, October 9th, CryptoQuant stated that even though Bitcoin broke through $126,000 this week to reach a new high, the market’s profit-taking level remains low. In the past 30 days, Bitcoin holders’ net realized profit totaled 260,000 BTC (approximately $30 billion), a 50% decrease from July’s 530,000 BTC ($63 billion), and much lower than the peaks in March and December 2024 (which were $78 billion and $99 billion, respectively).
CryptoQuant stated that low realized profits indicate that investors are more inclined to continue holding rather than cashing out, implying that “Bitcoin’s uptrend may continue, and there is still a long way to go to reach the real top.”
CryptoQuant also added that from an annual trend perspective, net realized profits are still rising, and this indicator is usually closely associated with enhanced price momentum in history.
