Key points:
Bitcoin investors are making the most of the highest price levels in several months by cashing out profits.
These are averaging $1 billion per day, leading to concerns that the market comeback may stall or even reverse.
Institutional participation has not led to a change in mindset, CryptoQuant says.
Bitcoin (BTC) risks a “local top or sharp correction” if current levels of profit-taking continue, new research warns.
In a “Quicktake” blog post on May 8, onchain analytics platform CryptoQuant flagged elevated realized profits among BTC investors.
BTC profit-taking spikes to January highs
Bitcoin realized profits have spiked to multimonth highs this week as BTC/USD reached close to ..
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