Profit-Taking Among Bitcoin Veterans Rises Sharply After Price Rally

TL;DRBitcoin surged past $105,000, triggering massive sell-offs from holders who kept their coins for over 150 days, aiming to lock in profits.The long-term holders’ realized profits indicator jumped 71% since March.Although BTC pulled back to $101,700, futures market interest remains strong, and the overall outlook for the coming months stays bullish.Bitcoin recently broke above $105,000 again, a milestone that strongly influenced the behavior of long-term investors. The rally sparked heavy selling activity from those who had held their reserves for more than 150 days, taking advantage of the price jump to secure profits.Recent data shows this group has significantly increased their realized gains over the past few weeks. According to on-chain metrics, the indicator tracking long-term holder sales posted a 71% rise since mid-March. This marks a clear trend: many chose to liquidate part of their positions after months of accumulation, responding to the market’s strong performance and the expectation of potential short-term corrections.However, analysts agree that Bitcoin’s current bullish cycle has yet to reach its peak. Futures market demand remains solid, reflected in a positive funding rate that signals growing interest in long positions. This dynamic suggests that while some investors are cashing out, the market overall continues to project strength.The Market Maintains a Bullish Outlook for BitcoinAfter hitting $105,000, Bitcoin started to pull back, falling below $102,000 — a 1.7% drop in the past 24 hours. This adjustment is partly driven by profit-taking and a noticeable decrease in buying pressure. The Chaikin Money Flow indicator, which tracks capital inflows and outflows, showed a downward trend, meaning less money flowing into the asset and more selling taking place.If supply outweighs demand in the coming days, BTC’s price could slide to $98,044. On the other hand, if buying interest picks up and accumulation regains momentum, Bitcoin could break through resistance at $102,080 and move back toward the $105,000 range. While some investors anticipate market adjustments, broader conditions continue to support an optimistic scenario for the months ahead..