Bitcoin Investors Hit Profit Highs After Record-Breaking Rally

Bitcoin investors have embarked on a wave of profit-taking following the cryptocurrency’s recent all-time high above $111,000. While Bitcoin has since retreated to around $105,000, traders are capitalizing on their gains by selling holdings. This is evident in Glassnode’s Entity-Adjusted Spent Output Profit Ratio data, which shows that investors are realizing profits on less than 8% of trading days.