- Bitcoin profit-taking accelerated significantly as prices reached three-month highs, with holders realizing $1.1 billion in profits on Monday.
- The Short-Term Holder Spent Output Profit Ratio entered “clear profit-taking territory,” suggesting short-term investors are locking in gains.
- Onchain analyst Julio Moreno warns that such spikes can signal local price tops, and demand has not caught up, keeping BTC in a bear market.
- U.S. Bitcoin ETF inflows remained strong this week, surpassing $1 billion before a Friday outflow, according to data.
- Analysts are divided on Bitcoin’s outlook, with some fearing a deeper bear market and others suggesting a possible bottom near $57,000 in late 2026.
Bitcoin investors seized the opportunity to lock in substantial gains this week as prices climbed to three-month highs, according to Julio Moreno, head of research at onchain analytics platform CryptoQuant. Holders cashed out 14,600 BTC, amounting to $1.1 billion in realized profits on Monday alone, marking the highest single-day profit-taking event since December.
Consequently, the Short-Term Holder Spent Output Profit Ratio (STH-SOPR) rose above 1, indicating a clear profit-taking signal from wallets holding BTC for less than 155 days. Moreno stated, “Bitcoin holders are realizing more than 20,000 BTC in net profits on a 30-day rolling basis, the first positive reading since December 22, 2025.”
However, Moreno cautioned that such spikes in realized profits during crypto bear markets often precede local price tops or sideways action. He emphasized that despite the profit-taking surge, demand has not caught up, and Bitcoin remains in a bear market.
Meanwhile, inflows into U.S. Bitcoin exchange-traded funds (ETFs) remained robust, with four days of positive inflows this week pushing the total past $1 billion, before a Friday outflow of $268.5 million, as data shows. Analysts remain divided on the market’s future trajectory.
Early Bitcoin investor Michael Terpin suggested BTC could bottom out at $57,000 in October 2026 based on historic price patterns. He told Cointelegraph there is a chance Bitcoin might reclaim $100,000 in 2026, but deemed the odds unlikely.
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