Bitcoin's 30-day net realized profits have reached 260,000 BTC ($30 billion), significantly lower than previous peaks, according to CryptoQuant. This low profit level suggests that holders are not cashing out, indicating potential for continued price increases. Historically, rising annual net realized profits have been linked to bullish momentum.
CryptoQuant's Julio Moreno highlighted that as long as realized profits grow, Bitcoin prices are likely to rise. Currently, short-term holders' profit realization rate is at 2%, well below the 8% seen at market tops, while long-term holders' rate is near 129%. OG holders have shown minimal activity, with only 5,000 BTC moved in the past month. CryptoQuant anticipates the Bitcoin rally to persist into Q4, potentially reaching $160,000–$200,000 if demand remains strong.
Bitcoin's Low Realized Profits Suggest Continued Uptrend, Says CryptoQuant
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