Glassnode: The profit-taking intensity of Bitcoin is only half of the previous historical high, indicating there is still room for an increase

ChainCatcher message, since October 13, Bitcoin has risen over 40%. However, traders remain confident in its upward potential, noting that the profit-taking intensity is only about half of that during previous historical high cycles.

Glassnode stated in a recent market report: "Although the profit-taking has been significant, it is still below historical peaks, indicating that there is further room for upward movement before potential demand exhaustion."

Glassnode explained that since Bitcoin broke through $73,679 on November 5, "realized profits" have averaged about $1.56 billion per day, nearly half of the $3 billion during the last historical peak in March. The report added: "Since entering the latest ATH discovery phase, we have observed $20.4 billion in realized profits."