On-Chain Signal Full: BTC Realizes $2 Billion Profit, Bull Market is Rapidly Peaking
On-chain analyst Murphy provided very critical data: BTC's realized profit has reached $2 billion, which is characteristic of a 'massive profit-taking phase', indicating that the market is rapidly entering the final sprint of the bull market.
Looking back at history:
In the first wave of the bull market in 2021, profit-taking reached as high as $2.2 billion; while the second wave only had $1.7 billion, and although the price did not immediately drop, the momentum had already begun to wane. Subsequently, the market weakened.
The current profit-taking volume has reached $2 billion, indicating that we are still in a strong trend nearing the peak, and it is not the arrival of the top, but rather the 'final blow of the helm'.
Many people instinctively turn bearish when they see huge profits being taken, but don't forget that bull markets are never afraid of profit-taking; what is feared is 'no one is taking over'. As long as there are still buyers to absorb the profits being released on-chain, it remains a healthy upward trend.
What really needs attention is that once the profit-taking volume weakens while the price is still being pushed up hard, that would truly be a prelude to top exhaustion.
Therefore, now is not the time to short, but rather to closely monitor the critical point of 'momentum decay'.
