Bitcoin has hit new highs, and according to on-chain analyst Murphy, the $2 billion in realized profits signals a strong bull market. He explains that the larger the profit realization, the stronger the market momentum. However, if this momentum starts to decline—like it did during Bitcoin’s second peak in 2021—it can be a sign of “diminishing” strength. Even though prices didn’t drop significantly back then, the weakening momentum was evident. Each major profit-taking event drains market demand, and if the market can't absorb it, signs of fatigue may appear. This is for educational purposes only, not investment advice.
