The recent Bitcoin rally has paused as profit-taking activity increases, according to a report by data analytics firm CryptoQuant. Bitcoin recently traded at $82 939, marking a nearly 4% decline over seven days following a peak of $87 251 last week.
CryptoQuant analysts note that short-term traders holding assets for one to three months currently see average unrealized profits of 33%. This level of margin, the highest since December 2024, historically encourages selling. Last week, holders realized 25 700 BTC in profit in a single day.
Despite the cooling momentum, the firm maintains that Bitcoin remains in a bull market, having crossed its 365-day moving average. Analysts identified three potential support levels for a market correction: $80 000, $71 000, and $67 000.
Market conditions have shifted since last year, when Bitcoin hit a record $126 080 in October before a major liquidation event involving $19 billion. Current interest is driven by the debasement trade, following reports that total U.S. debt exceeded $40 trillion in July.
