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Profit-taking is ramping up on the #
Bitcoin
network again. Yesterday, $BTC realized profits hit $2.46B, while the 7D SMA climbed to $1.52B. That’s above the YTD average of $1.14B, but still well below the ~$4-5B peaks (7D SMA) seen in Nov–Dec 2024.
#BTC
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Over the past six months, #Bitcoin has traded within a well-defined short-term band. The upper boundary - +1 STD above the STH cost basis - was tested only once in late May and currently stands at $117,113. This level can be seen as the upper band of the short-term price action.
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#Bitcoin dips remain shallow - so far contained above the 1-month realized price ($105.1K). Other realized prices: 🔸<24h: $105.6K 🔸<1w: $106.3K 🔸<3m: $101.2K 🔸<6m: $98.1K All short-term holder cohorts are still in profit, signaling improving market momentum.
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Last call to join our live webinar on #Bitcoin’s Liquidity Trifecta with Avenir. We’ll unpack: → Capital inflows across on-chain and ETF markets → Shifts in order book and derivatives activity → Macro correlations and liquidity sensitivity Register: https://glassno.de/4l7C3UG
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Glassnode Studio just got a major upgrade. With tabs covering all sides of the market - fundamentals, P&L, supply dynamics, and futures - you can now quickly get a comprehensive view. One dashboard, hundreds of assets, institutional-grade data - for free!
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Profit-taking on the #Bitcoin network was driven mostly by mid- to long-term holders. $BTC aged 3–5y realized $849M, followed by 7–10y at $485M, and 1–2y at $445M. Short-term holders (<6m) played a much smaller role.
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