Bitcoin (BTC) holders are accelerating profit-taking activity following a confirmed golden cross on May 22, when BTC’s 50-day simple moving average (SMA) surpassed its 200-day SMA. The event coincided with a record price peak of $111,000.
Realized Profits Surpass $500M per Hour
According to on-chain data from Glassnode, entity-adjusted realized profits exceeded $500 million per hour three times within 24 hours on June 3. This metric tracks total U.S. dollar profits from all moved coins whose last on-chain movement price was lower than the transaction price.
This marks the highest level of realized profit-taking activity since February and reflects heightened selling pressure despite bullish technical indicators.
SOPR and Whale Data Confirm Distribution Phase
Glassnode’s adjusted Spent Output Profit Ratio (SOPR) also shows a rising trend in profit realization. The platform reports that the average coin moved is locking in gains of approximately 16%, with less than 8% of historical trading days offering higher profitability for investors.
Meanwhile, large holders — entities with 10,000 to 100,000 BTC — have continued a multi-year trend of reducing holdings. Blockchain analyst Willy Woo notes that this group’s supply has declined by approximately 40% over eight years, dropping from 2.7 million BTC to around 1.6 million BTC as of June 2025.
Bitcoin Holds Key Support at $105,000
BTC is currently trading at $105,750, retracing approximately 5.5% from its recent peak. The asset briefly recovered to $106,800 on June 3 before returning to the $105,000 support range during early trading hours on June 4.
Bitcoin has now held above the six-figure threshold for 27 consecutive days, setting a new record and surpassing the previous high of 18 days above $100,000 in January 2025.
