Bitcoin experiences near-historic levels of net profit realization

Bitcoin is currently experiencing a surge in net profit realization, reaching near-historic levels. By analyzing Bitcoin’s net profit/loss using a seven-day moving average, it has been determined that Bitcoin’s net realized profit almost matched its previous record high in January 2021, totaling a staggering $3.8 billion. This trend peaked on March 14, when Bitcoin was valued at approximately $73,600, resulting in a net realized profit of around $3.6 billion. It is interesting to note that this cyclical trend of net realized profit-taking has been on the rise, with CryptoSlate reporting a 157-day net realized profit-taking period in March, surpassing the previous 155-day period in 2021. However, as of March 24, net realized profit has dropped to $1.5 billion, which is still higher than pre-peak figures but less than half of the peak value. This decline corresponds with Bitcoin’s recent dip from its peak, which is primarily attributed to the significant profit-taking activity.