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Bitcoin (BTC) has soared about 22.5% over the past 30 days, raising concerns in the cryptocurrency market that its rally could be exhausted and have potential price corrections. However, the latest chain data shows that despite the increased profits, there are still No sign The sales pressure of leading cryptocurrencies is increasing.
Bitcoin’s unrealized profits are still high, but no panic sales yet
According to a recent crypto QuickTake post by Bitcoin analyst Crollakaccomplices of new investors – those who have held BTC for less than a month – currently unrealized profits are 6.9%.
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Similarly, short-term investors (holders who hold Bitcoin for less than six months) did not realize 10.7%. These figures emphasize that unrealized profit/loss ratios remain higher, with unrealized profits far exceeding unrealized losses.
Crazzyblockk noted that while historically unrealized profits across the network are high, often before higher price corrections, the current settings seem to be different. They added:
Past cycles have shown that extreme profit concentrations are often preceded by volatility. However, the current market structure does not show a high concentration of risk in a group of participants.
In unrealized profits between new and short-term holders, relatively narrow spreads indicate that profit distribution is balanced. Furthermore, despite the high profit levels, the loss levels remain under pressure, indicating limited seller pressure encountered. The writer said:
While macro conditions and volatility risks remain elevated and price corrections cannot be ruled out, there is no strong behavioral signal that indicates a high willingness to trigger a significant allocation or sale.
Further rise in BTC?
Meanwhile, experienced crypto analyst Ali Martinez recently predicted further upside potential for Bitcoin. Martinez pointed out in a post on X that another happened to BTC Bullish breakthroughpotentially reaching a new all-time high (ATH) around $111,500.
The current momentum has also attracted retail investors. According to CryptoQuant contributor Carmelo Aleman, a wallet that holds less than $10,000 worth of BTC is stable return Enter the market – a sign of growing retail participation.
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That said, some warning signs may still suppress BTC’s current bullish trajectory. For example, despite recent encouraging price action, Bitcoin demand momentum is coming. remains soft.
Similarly, Bitcoin’s “supply scarcity” narrative still lacks meaningful power emphasize Despite exhausted exchange reserves, BTC is unlikely to face real supply scarcity in the near term. At press time, BTC traded at $106,528, up 1.8% in the past 24 hours.
Featured images from Unsplash, charts from CryptoFant, X and TradingView.com
