Widespread Profit-Taking: Bitcoin Traders and Ethereum Whales Withdraw Liquidity as Prices Rise

Despite the optimistic nature of Bitcoin traders, they do not hesitate to take profits when market uncertainty increases, especially given the need to cover costs or manage risks.

After a period of turmoil related to geopolitical tensions and what is popularly known as the 'Trump Trade War,' which caused the price of Bitcoin to fall below $75,000, traders returned to selling as the price rose by about $20,000 since April 9.

According to data shared by analyst 'Ali Martinez,' the value of the profits taken reached approximately $18.6 million when the price exceeded the $93,000 mark earlier this week.

In contrast, the outlook appears more pessimistic for Ethereum.

Several large institutional investors, including 'Galaxy Digital,' have begun liquidating large portions of their Ethereum holdings.

Data indicates that these investors transferred 305,000 Ethereum, worth about $540 million, to trading platforms within a week.

The situation did not stop there, as 'Martinez' reported that Ethereum whales resumed selling at a noticeable pace following the recent shift in price direction.