Bitcoin Profit Taking Accelerates as BTC Realized Gain Jumps to $2.4B

The profit-taking enactment connected the Bitcoin web intensified connected Monday, keeping bitcoin's (BTC) spot terms nether unit connected the last time of the 2nd quarter.

The full magnitude of realized profits on-chain roseate to $2.4 billion, with its seven-day mean climbing to $1.52 billion, the highest since the 2nd fractional of May, according to information tracked by blockchain analytics steadfast Glassnode.

"That’s supra the YTD mean of $1.14 billion, but inactive good beneath the ~$4 billion-$5 cardinal peaks (7D SMA) seen successful Nov–Dec 2024," Glassnode said connected X.

The realized nett metric represents the full USD worth of each coins moved on-chain whose terms astatine their latest question was higher than the terms astatine their erstwhile movement.

Read: Who's Selling Bitcoin Above $100K and Holding Back the Price Rally?

BTC's spot terms fell by 1% to $107,180 connected Monday. Prices have steadied successful the scope of $100,000 to $110,000 since mid-May, with wallets known to clasp coins for the semipermanent liquidating their holdings amid continued inflows into the U.S.-listed spot bitcoin exchange-traded funds (ETFs).