Short-term Bitcoin holders realize over 20,000 BTC in net profits daily, signaling potential market caution despite ETF inflows.
Bitcoin profit-taking by short-term holders has accelerated as the cryptocurrency approaches $81K, with realized profits spiking to a 30-day net positive of over 20,000 BTC. This marks the first positive reading since December 22, 2025, following a period of heavy losses in February and March that reached 398,000 BTC.
The Short-Term Holder Spent Output Profit Ratio (STH-SOPR) rose above 1, indicating clear profit-taking territory. Historically, such spikes during bear markets have signaled local price tops or sideways movement, as demand has yet to match the pace of realized profits.
Despite strong inflows into Bitcoin ETFs, which surpassed $1 billion this week, a $268.5 million outflow on Friday highlighted market division. Analysts remain split on whether Bitcoin has bottomed or if further declines loom, with some predicting a potential drop to $57,000.