The Bitcoin price rally cooled off in the last 24 hours, with the price dropping more than 5% after reaching a new all-time high of $123,231. This pullback comes as many investors decided to lock in profits at record levels that pushed to $116,700, when writing.
While the market still appears structurally bullish, recent data and insights suggest a short-term consolidation might be underway before continuing another leg up.
According to on-chain data from Glassnode, the correction strongly aligns with a significant spike in the realized profits.
In total, investors realized over $3.5 billion in profits. Notably, long-term holders (LTHs) accounted for $1.96 billion, while short-term holders (STHs) contributed $1.54 billion.
This level of profit realization by LTHs suggests a maturity in market participation instead of a newbie move. These kinds of investors are identified as those individuals or institutions who typically accumulate during bear phases and selectively offload during high volatility or market peaks.
The current wave of profit booking shows that many LTHs saw the $123K milestone as a strategic exit point for partial gains.
Despite the correction, some analysts remain constructive on Bitcoin crypto’s outlook. According to Mister Crypto, the recent decline could be healthy in the broader uptrend.
In his view, if Bitcoin price revisits the EMA ribbons, which are aligned near the $110K level, which is also June’s previous high, it could create an ideal bounce scenario.
He also hinted that in strong bullish trends, the EMA ribbons tend to act as dynamic support. If Bitcoin tests this zone and holds, it may quickly reverse higher, potentially targeting $135K in the next leg up.
Adding to the longer-term bullish backdrop, Mister Crypto also highlighted that Bitcoin Treasury companies, which include public firms holding BTC on their balance sheets, now collectively hold more than half the amount of Bitcoin currently held by all ETFs combined.
This indicates that long-term institutional interest is not only growing but may be more influential than Bitcoin ETF flows alone.
Such holdings often reflect strategic positioning rather than short-term speculation, suggesting that large players still view Bitcoin as a viable long-term store of value.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Analyst Jesse from Apex Crypto Consulting says XRP could play an important role in a…
Ethereum price has bled hard after facing a strong rejection around the $4,700 level. In…
When a crypto analyst recently predicted that the XRP price could hit $100 by 2030,…
Seychelles, 8th October, 2025 - Global cryptocurrency exchange Zoomex today announced a landmark partnership with…
Timing has always been everything in crypto. Those who recognize momentum early often capture the…
Bitcoin has reached a new all-time high above $125,000, but market history shows this is…
