The profit-taking activity on the Bitcoin network intensified on Monday, keeping bitcoin’s
spot price under pressure on the final day of the second quarter.
The total amount of realized profits on-chain rose to $2.4 billion, with its seven-day average climbing to $1.52 billion, the highest since the second half of May, according to data tracked by blockchain analytics firm Glassnode.
“That’s above the YTD average of $1.14 billion, but still well below the ~$4 billion-$5 billion peaks (7D SMA) seen in Nov–Dec 2024,” Glassnode said on X.
The realized profit metric represents the total USD value of all coins moved on-chain whose price at their latest movement was higher than the price at their previous movement.
Read: Who’s Selling Bitcoin Above $100K and Holding Back the Price Rally?
BTC’s spot price fell by 1% to $107,180 on Monday. Prices have steadied in the range of $100,000 to $110,000 since mid-May, with wallets known to hold coins for the long-term liquidating their holdings amid continued inflows into the U.S.-listed spot bitcoin exchange-traded funds (ETFs).
