{"id":34701,"date":"2025-07-02T04:01:31","date_gmt":"2025-07-02T04:01:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34701"},"modified":"2025-07-02T04:01:31","modified_gmt":"2025-07-02T04:01:31","slug":"bitcoin-network-sees-spike-in-realized-profits-still-far-from-late-2024-highs","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34701","title":{"rendered":"Bitcoin Network Sees Spike In Realized Profits \u2013 Still Far From Late 2024 Highs"},"content":{"rendered":"
\n

Bitcoin is currently trading at critical levels, holding firmly above $105,000 but struggling to break through the $109,000 resistance zone. This range has become a decisive battleground between bulls and bears, with market participants closely watching for a breakout or breakdown in the coming days. While bulls remain in control and continue to defend key support levels, the failure to push into price discovery has raised concerns that a correction may be looming.<\/p>\n

Adding to this cautious sentiment, fresh data from Glassnode reveals a notable uptick in profit-taking activity across the Bitcoin network. Realized profits surged to $2.46 billion in a single day, while the 7-day moving average climbed to $1.52 billion, well above the year-to-date average of $1.14 billion. Though still below the peaks seen in late 2024, this trend signals that investors are beginning to secure gains, potentially preparing for increased volatility.<\/p>\n

With sentiment split and macro conditions in flux, the coming days may be crucial for Bitcoin\u2019s next major move. If bulls can reclaim the $109K level, momentum<\/a> could return. But if profit-taking intensifies, a deeper correction could bring BTC back toward the $100K mark.<\/p>\n

Profit-Taking Accelerates As Bitcoin Battles Resistance<\/h2>\n

Bitcoin has experienced significant volatility in 2025, marked by aggressive price swings that have kept traders on edge. The past month alone has seen Bitcoin surge to a new all-time high near $112,000 before retracing to a local low of $98,000. Despite this choppy action, the broader trend remains positive. Since rebounding from the $75,000 level in April, Bitcoin has climbed over 15%, with bulls maintaining control and defending key support zones.<\/p>\n

This strength coincides with a broader risk-on environment, as the US stock market recently reached a new all-time high. Many analysts believe Bitcoin and the wider crypto market could be next in line to benefit from improved sentiment and increased investor appetite.<\/p>\n

However, on-chain data from Glassnode<\/a> reveals that profit-taking is ramping up again. Yesterday, realized profits on the Bitcoin network hit $2.46 billion, while the 7-day simple moving average (SMA) climbed to $1.52 billion. This figure sits well above the year-to-date average of $1.14 billion, suggesting a renewed wave of profit realization among investors. Still, these levels remain considerably lower than the $4\u20135 billion profit spikes seen during the peak frenzy of November and December 2024.<\/p>\n

\"Bitcoin<\/p>\n

While these metrics don\u2019t necessarily signal an immediate top, they reflect growing caution in the market. As Bitcoin hovers just below its all-time high, the balance between bullish momentum and investor profit-taking will be key in determining whether BTC breaks higher or retraces further in the sessions ahead.<\/p>\n

BTC Struggles Below Critical Resistance<\/h2>\n

The 12-hour chart of Bitcoin shows a clear consolidation phase that began in early May. After a sharp rally above $100,000, BTC has been trading within a defined range, with key support at $103,600 and stiff resistance near $109,300. Price briefly pushed above the 50- and 100-period moving averages, but strong selling pressure has continued to block any decisive breakout above the $109K zone.<\/p>\n

\"BTC<\/p>\n

Currently, Bitcoin is trading at approximately $106,557, slightly below the short-term moving averages, suggesting a potential cooling-off period. Price action remains choppy, with multiple failed attempts to establish a clear trend. Despite bullish attempts to retest the upper resistance band, volume has not confirmed a breakout, and wicks above $109K indicate exhaustion at those levels.<\/p>\n

The $106K mark\u2014aligned with the 50 and 100 SMAs\u2014is acting as a dynamic support, but a break below could quickly send BTC to retest the $103,600 level. On the upside, bulls must clear $109,300 with conviction to trigger a potential rally toward new all-time highs.<\/p>\n

Featured image from Dall-E, chart from TradingView<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is currently trading at critical levels, holding firmly above $105,000 but struggling to break through the $109,000 resistance zone. This range has become a decisive battleground between bulls and bears, with market participants closely watching for a breakout or breakdown in the coming days. While bulls remain in control and continue to defend key […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34701","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34701"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34701\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}