CryptoQuant: The profit-taking level for BTC holders remains low, and the pump may continue.

On October 9, CryptoQuant stated that even if Bitcoin breaks through $126,000 this week to reach a new high, the market's profit-taking level remains relatively low. In the past 30 days, the net realized profit of Bitcoin holders totaled 260,000 BTC (approximately $3 billion), down about 50% from 530,000 BTC ($6.3 billion) in July, and far below the peaks of March and December 2024 (which were $78 billion and $99 billion, respectively). CryptoQuant noted that low realized profits indicate that investors are more inclined to continue holding rather than cashing out, which suggests that "the Bitcoin pump may continue, and there is still some distance from the true top." CryptoQuant also added that, from an annual trend perspective, net realized profits are still on the rise, and this indicator has historically been closely related to strengthening price momentum.