Bitcoin Profit-Taking Remains Modest, Bull Run Likely Intact

Bitcoin Profit-Taking Remains Modest, Bull Run Likely Intact

Bitcoin’s profit-taking phase is currently modest, as analyzed by CryptoQuant’s “Crypto Dan.” Despite reaching new all-time highs, the bull run shows no signs of concluding, maintaining steady market activity.

Current data indicates that Bitcoin’s restrained profit realization highlights a stable market setting. While some price correction may occur, evidence suggests that broader upward trends remain unaffected.

Bitcoin has achieved new all-time highs of $111,980. NRPL and related on-chain metrics imply restrained profit-taking, which prevents the risk of a local or macro top forming. Futures markets experienced a $3.7 billion drawdown recently.

Current analysis shows modest profit realization, supporting ongoing market growth. NRPL data from CryptoQuant’s Crypto Dan emphasizes stable market conditions, indicating a continued bull run without a possible cycle top.

Bitcoin’s performance continues to exert influence over the crypto market, affecting major cryptocurrencies like ETH. Despite some profit-taking, the broader crypto market remains unaffected, maintaining its value stability.

Market impacts

Predict continued growth aligned with historical data. On-chain metrics such as NRPL remain lower than at previous peaks, suggesting no imminent bull cycle end. Analysts note favorable outcomes for sustained market growth driven by these trends.

As observed by market experts, current Bitcoin trends showcase predictable profitability in line with lower speculation compared to previous cycles. Future market shifts are likely favorable, given the absence of exaggerated profit-taking levels.

“Compared to the NRPL spikes at past cycle peaks, this round of profit-taking is relatively limited. In particular, when compared to the movements at the highs in March and November 2024, the current level of profit realization is notably lower. This suggests it is highly likely that Bitcoin’s upward cycle can continue.”
— Crypto Dan, source