Bitcoin’s new all-time high triggers $3.5 billion profit-taking spree in 24 hours

Profit-taking activity surged across the Bitcoin network during the last 24 hours after the leading crypto asset reached a new all-time high of over $123,000.

Data from blockchain analytics firm Glassnode shows that total realized profits in the market jumped to $3.5 billion, marking one of the largest single-day profit realizations for Bitcoin this year.

The bulk of the selling came from long-term holders, who accounted for approximately $1.96 billion, or 56% of the total. Short-term holders contributed the remaining $1.54 billion, roughly 44% of realized gains.

Realized profit reflects the total value of coins moved on-chain where the sale price exceeded the last recorded purchase price. It serves as a reliable indicator of investor intent, especially during volatile market phases.

Following the wave of profit-taking, Bitcoin’s price declined by around 4% in the past 24 hours, falling from above $120,000 to approximately $116,000 as of press time. The drop reflects investor reaction to Bitcoin’s new all-time high, which came amid growing optimism across the broader crypto market.

The post Bitcoin’s new all-time high triggers $3.5 billion profit-taking spree in 24 hours appeared first on CryptoSlate.