Surge in Realized Profits for Bitcoin Network, Yet Still Below Late 2024 Peaks

Bitcoin is presently trading at pivotal levels, remaining robustly above $105,000 yet finding it challenging to surpass the $109,000 resistance area. This interval has emerged as a key battleground between buyers and sellers, with market players closely monitoring for either a breakout or breakdown in the forthcoming days. While buyers continue to dominate and uphold essential support levels, the inability to enter price discovery has sparked worries that a correction might be imminent.

Complementing this cautious sentiment, new insights from Glassnode indicate a significant increase in profit-realization activity across the Bitcoin network. Realized profits soared to $2.46 billion in just one day, while the 7-day moving average rose to $1.52 billion, significantly above the year-to-date average of $1.14 billion. Although still below the highs observed in late 2024, this trend indicates that investors are starting to secure profits, possibly gearing up for heightened volatility.

With sentiment divided and macroeconomic conditions shifting, the upcoming days could be critical for Bitcoin’s subsequent major movement. If buyers can regain the $109K threshold, momentum could reemerge. Conversely, if profit-taking escalates, a deeper correction could pull BTC back towards the $100K level.

Profit Realization Ramps Up As Bitcoin Faces Resistance

Bitcoin has undergone substantial volatility in 2025, characterized by sharp price fluctuations that have kept traders apprehensive. The previous month has witnessed Bitcoin leap to a new all-time high nearing $112,000 before retracing to a local low of $98,000. Despite this erratic motion, the overarching trend remains encouraging. Since bouncing back from the $75,000 level in April, Bitcoin has surged over 15%, with buyers retaining control and defending pivotal support areas.

This strength aligns with a broader risk appetite, as the US stock market recently achieved a new all-time high. Numerous analysts posit that Bitcoin and the wider cryptocurrency market could be poised to reap the benefits from enhanced sentiment and increased investor interest.

However, on-chain insights from Glassnode indicate that profit-realization is escalating once more. Yesterday, realized profits within the Bitcoin network reached $2.46 billion, while the 7-day simple moving average (SMA) rose to $1.52 billion. This figure is significantly above the year-to-date average of $1.14 billion, implying a renewed wave of profit-taking among investors. Nevertheless, these levels remain substantially lower than the $4–5 billion profit spikes seen during the peak excitement of November and December 2024.

While these metrics don’t necessarily denote an immediate peak, they indicate increasing caution within the market. As Bitcoin hovers just beneath its all-time high, the equilibrium between bullish momentum and investor profit-taking will be crucial in determining whether BTC surges higher or retraces in the coming sessions.

BTC Faces Challenges Below Key Resistance

The 12-hour chart of Bitcoin illustrates a distinct consolidation phase that commenced in early May. Following a sharp rise above $100,000, BTC has been trading within a defined range, with significant support at $103,600 and formidable resistance near $109,300. Prices briefly exceeded the 50- and 100-period moving averages, yet vigorous selling pressure has continually thwarted any decisive breakout beyond the $109K zone.

Currently, Bitcoin is priced around $106,557, just beneath the short-term moving averages, indicating a potential period of cooling. Price action remains volatile, with several unsuccessful attempts to initiate a clear trend. Although bullish efforts to retest the upper resistance range have occurred, volume has not confirmed a breakout, and wicks above $109K suggest depletion at those levels.

The $106K threshold—aligned with the 50 and 100 SMAs—is functioning as a dynamic support, but a break below could swiftly drive BTC to retest the $103,600 level. On the upside, bulls must convincingly surpass $109,300 to ignite a potential rally toward new all-time peaks.

Featured image from Dall-E, chart from TradingView

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