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Title: Large Bitcoin Investors Realize $1.54 Billion in Profits but Rally Still Intact
As the price of Bitcoin (BTC) pulled back to below $117,000 amidst renewed volatility, a significant wave of profit realization has been observed among large investors. According to recent findings from CryptoQuant, these investors have collectively realized an astonishing $1.54 billion in profits over the past 24 hours.
This substantial influx of realized gains is not expected to derail the broader bullish trend, as demand from other investor cohorts remains strong. The data suggests that while some market participants are taking profits, others may be positioning for continued price action.
Large-scale miners have also been actively selling their holdings, with an unprecedented $3.5 billion in profits realized by investors over the past day. Interestingly, long-term holders accounted for approximately 56% of these gains, with short-term holders capturing the remaining 44%.
The massive profit-taking event was led predominantly by seasoned investors, who appear to be seizing the opportunity to lock in their gains as Bitcoin reaches fresh highs while still allowing room for new capital to enter the market.
Source: cryptopotato.com
