Bitcoin Records 22.5% Surge Amid Elevated Unrealized Profits

Bitcoin (BTC) has increased by 22.5% over the last 30 days, raising concerns about a potential price correction. Despite high unrealized profits, there is currently no significant selling pressure.

Key Insights

New investors holding BTC for less than one month have unrealized profits of 6.9%.
Short-term investors with holdings under six months report unrealized profits of 10.7%.
The profit distribution between new and short-term holders is balanced, indicating limited distress among sellers.
No strong signals suggest a willingness to sell significantly despite high profit levels.

Current market structure lacks outsized risk concentration among participants.

Future Outlook

Analyst Ali Martinez predicts BTC could reach a new all-time high of $111,500 following a bullish breakout.
Retail investors are returning, with wallets holding less than $10,000 increasing their activity.
Demand Momentum for Bitcoin remains low, which could hinder its upward trajectory.
Concerns persist regarding the strength of Bitcoin's supply scarcity narrative despite decreasing exchange reserves.

As of now, BTC trades at $106,528, up 1.8% in the past 24 hours.