Bitcoin Hits 3-Month High Amid Rising Profit-Taking
Bitcoin recently surged to a three-month peak, prompting an increase in profit-taking among investors following the cryptocurrency’s latest price rally. Julio Moreno, Head of Research at CryptoQuant, noted that Bitcoin holders realized profits of approximately 14,600 BTC worth nearly $1.1 billion in a single day. This marks the highest level of daily profit-taking since December 10, when Bitcoin’s price exceeded $90,000.
According to Moreno, the Short-Term Holder Spent Output Profit Ratio (STH-SOPR), which measures profit-taking activity by wallets holding Bitcoin for less than 155 days, has risen above 1. This metric indicates that the market has entered a phase characterized by active profit realization.
Over the past 30 days, Bitcoin holders have netted more than 20,000 BTC in profits—the first positive net profit reading since late December 2025. This follows a period in February and March marked by significant realized losses. Moreno cautioned that spikes in realized profits during bear markets can signal upcoming local price peaks or periods of extended sideways market movement.
Despite the recent price recovery, Moreno maintained that Bitcoin remains in a broader bear market due to incomplete demand recovery. Meanwhile, inflows into Bitcoin exchange-traded funds (ETFs) remain robust, with weekly inflows exceeding $1 billion before experiencing a daily outflow of $268.5 million last Friday.
Market analysts are divided over Bitcoin’s long-term trajectory. Early Bitcoin investor Michael Terpin suggested there is a possibility that Bitcoin could reach a bottom near $57,000 by October 2026, based on historical market cycle patterns. Terpin also commented that while Bitcoin might reclaim the $100,000 level in 2026, the chances currently appear limited.
This recent surge in Bitcoin price and profit-taking activity occurs amid cautious optimism in the cryptocurrency market. Investors continue to monitor key on-chain metrics and market sentiment as they assess the sustainability of this rally within a still uncertain broader economic landscape.
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