Bitcoin’s Daily Profit-Taking Hits $1B: The Saga Continues!

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In the grand theater of human folly and ambition, behold Bitcoin—an invention born from dreams and greed—now faces the inexorable tide of profit-takers. According to the wise scribes of Glassnode, these traders—mostly mere mortals who bought early and now feast on their gains—have managed to extract a staggering $1.47 billion daily at the peak. Ah, the sweet taste of victory, fleeting as it is! This marks the fifth time in this cycle that profits have crossed the billion-dollar threshold, a humorous testament to humanity’s endless chase after wealth, often at the expense of reason. 🤑

These figures, carefully adjusted to exclude those sneaky exchanges, underscore a pattern—these spikes tend to herald local tops or moments of hesitation, much like a squirrel pausing before crossing the road. The market, in its infinite stubbornness, struggles to digest these gains, revealing the delicate balance of resilience and chaos. One must wonder, does the market truly endure or merely play along like a bemused spectator? 🤨

Profit-Taking Gets Straighter and Narrower—Like a Sad Sad March Toward Maturity

To peer deeper into this curious dance, the learned analysts at Glassnode use a simple 90-day moving average—a method as humble as a peasant’s loaf—to track net realized profits against Bitcoin’s grand market cap.

This reveals how the appetite for profits wanes as the years roll on. Listen, for example:

  • From 2015 to 2018, a cycle of roughly 25 months, profits soared past 0.4% of the market cap—an exuberant, reckless youth.
  • Then, during 2020 to 2022—about 20 months—peaks barely reached 0.15%, hinting at a more cautious phase.
  • Now, in this current cycle—nearly 18 months old—profits peak around a modest 0.1%, as if the market has learned to walk before running.

Such a declining trend suggests that the wild, reckless days of easy profits are waning. Perhaps the market is becoming more disciplined, less chaotic, wary of illusions. The folks with the institutional pots of money are inching in, bringing a sense of order—like a stern uncle at a family gathering—calmly guiding the chaos toward some distant, rational horizon. In short, the market is maturing—no more fireworks, just a slow, steady march (or perhaps a cautious shuffle). And thus, humanity’s unending pursuit of wealth takes another step—less frolic, more obliged dance. 🧐

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2025-06-09 02:24