{"id":24159,"date":"2024-12-04T23:16:12","date_gmt":"2024-12-04T23:16:12","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=24159"},"modified":"2024-12-04T23:16:12","modified_gmt":"2024-12-04T23:16:12","slug":"dwindling-interest-in-bitcoin-sales-profit-taking-plummets-42-from-peak-levels","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/dwindling-interest-in-bitcoin-sales-profit-taking-plummets-42-from-peak-levels\/","title":{"rendered":"Dwindling Interest in Bitcoin Sales: Profit-Taking Plummets 42% from Peak Levels"},"content":{"rendered":"\n

Recent on-chain data indicates that Bitcoin investors are taking fewer profits following last month’s peak, which may signal positive trends for BTC.<\/p>\n

<\/span>Bitcoin Realized Profit to Exchanges Falls to $277 Million Daily<\/span><\/h2>\n

According to the on-chain analytics company Glassnode<\/a>, there has been a noticeable decline in profit-taking among Bitcoin traders over the past weeks.<\/p>\n

The firm utilizes the “Realized Profit to Exchanges” metric to gauge profit-taking activities. This metric specifically tracks the total profit that investors ‘realize’ through transfers to centralized exchanges.<\/p>\n

A profit is considered realized in the blockchain when a token is transferred at a price higher than its previous transaction value. However, not every transfer on the network leads to a trade, which is why Glassnode focuses solely on exchange inflows for this metric.<\/p>\n

Typically, holders send their coins to exchanges when intending to sell, making this inflow data a more reliable indicator of prevailing profit-taking trends.<\/p>\n

Below is a chart displaying the 7-day moving average of Bitcoin’s Realized Profit to Exchanges over the past few years:<\/p>\n

<\/p>\n

The chart shows that the 7-day moving average of Bitcoin Realized Profit to Exchanges spiked last month, coinciding with Bitcoin reaching new highs. This indicates that investors were cashing in on profits during the rally.<\/p>\n

It\u2019s important to note that the version of the indicator used here is “Entity-Adjusted,” focusing only on transactions between distinct entities. An \u2018entity\u2019 refers to a group of addresses identified by Glassnode as belonging to a single investor.<\/p>\n

After BTC peaked above $99,000, it has entered a consolidation phase. The observed decrease in profit-taking correlates with this slowdown in the bullish trend.<\/p>\n

According to the analytics firm, \u201cDaily realized profits to exchanges have cooled off significantly, now at $277M\/day,\u201d reflecting a 42% decrease from November 16\u2019s peak of $481M\/day.<\/p>\n

This year, Bitcoin experienced two additional substantial profit-taking episodes, each marking peaks in the cryptocurrency market. Consequently, the recent calming of profit realization, despite the price remaining high, may indicate potential positive momentum for the ongoing rally.<\/p>\n

<\/span>BTC Price<\/span><\/h2>\n

Bitcoin is currently consolidating, with its price hovering around $95,900.<\/p>\n

\"Bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

Recent on-chain data indicates that Bitcoin investors are taking fewer profits following last month’s peak, which may signal positive trends for BTC. Bitcoin Realized Profit to Exchanges Falls to $277 Million Daily According to the on-chain analytics company Glassnode, there has been a noticeable decline in profit-taking among Bitcoin traders over the past weeks. The […]<\/p>\n","protected":false},"author":14,"featured_media":24160,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Dwindling Interest in Bitcoin Sales: Profit-Taking Plummets 42% from Peak Levels - Bitrabo","description":"Recent on-chain data indicates that Bitcoin investors are taking fewer profits following last month's peak, which may signal positive trends for BTC. Bitcoin Re"},"footnotes":""},"categories":[316],"tags":[9797,448,1468,4568,6599,889],"class_list":["post-24159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-appetite","tag-bitcoin","tag-profittaking","tag-running","tag-seller","tag-top"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/24159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=24159"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/24159\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/24160"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=24159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=24159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=24159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}