Bitcoin profit-taking could accelerate as BTC prices climb to three-month highs and investors begin locking in gains, according to Julio Moreno, head of research at onchain analytics platform CryptoQuant.<\/p>\n
Holders realized 14,600 BTC in profits on Monday, or $1.1 billion, following Bitcoin’s April rally<\/a>, Moreno said, adding that this is the \u201chighest\u201d single day of profit-taking since Dec. 10, when BTC was trading above $90,000.<\/p>\n Bitcoin holders’ realized profits spike after the April rally. Source: CryptoQuant<\/em><\/p>\n The Short-Term Holder Spent Output Profit Ratio (STH-SOPR), an onchain metric that gauges profit-taking by wallets that have held BTC for less than 155 days, also rose above 1, a level that indicates \u201cclear profit-taking territory,\u201d he added. He said:<\/p>\n \u201cBitcoin holders are realizing more than 20,000 BTC in net profits on a 30-day rolling basis, the first positive reading since December 22, 2025, following a period of heavy net losses in February and March that reached as deep as 398,000 BTC.\u201d<\/p><\/blockquote>\n Spikes in realized profit levels during crypto bear markets typically signal local price tops<\/a> or sideways price action, Moreno said, adding that despite the rise in realized profits, demand has not caught up, and BTC remains in a bear market. <\/p>\n The Bitcoin Short-Term Holder Spent Output Profit Ratio signals that short-term holders are realizing profits. Source: CryptoQuant<\/em><\/p>\n Related: <\/strong><\/em>Bitcoin \u2018supercycle\u2019 or bear-market rally? BTC breaking $81K has traders at odds<\/strong><\/em><\/a><\/p>\n Inflows into Bitcoin exchange-traded funds (ETFs) remain strong, with four days of positive inflows this week<\/a>, according to Farside data<\/a>.<\/p>\n ETF inflows for the week surged past $1 billion, before an outflow of $268.5 million on Friday, Farside\u2019s data shows.<\/p>\n Analysts remain divided<\/span><\/a> about whether BTC has bottomed out or whether the ongoing bear market will deepen.\u00a0<\/p>\n Michael Terpin, an early Bitcoin investor, told Cointelegraph that BTC could bottom out at $57,000<\/span><\/a> in October 2026. The forecast is based on \u201chistoric\u201d price patterns in which BTC hits its cycle low about one year after the cycle top, Terpin said.<\/p>\n There is a \u201cchance\u201d that Bitcoin might reclaim the $100,000 price level in 2026, but the odds are \u201cunlikely,\u201d Terpin told Cointelegraph.<\/p>\n![\"\"](\"https:\/\/resizer.ctmedia.io\/cdn-cgi\/image\/f=auto,onerror=redirect,w=896,q=90\/https:\/\/s3-images.ctmedia.io\/media\/content\/screenshot-2026-05-08-at-125047-pm.png\")
<\/figure>\nBitcoin ETF inflows remain strong, while analysts are divided on market health<\/h2>\n