Bitcoin Hits Profit-Taking Zone as Traders Eye Exits
BTC’s latest surge places it squarely in the ’take money off the table’ range—just as Wall Street starts pretending it understood blockchain all along.
Key levels to watch: $70K becomes the new psychological battleground after clearing $65K resistance. Whales are circling, retail FOMO is building, and your cousin’s ’crypto expert’ LinkedIn post is imminent.
Pro tip: When CNBC runs its third Bitcoin segment this week, consider it a contra-indicator. The smart money’s already calculating exit liquidity from the very institutions now rushing to ’adopt’ what they spent years dismissing.
BTC’s short liquidity accumulated around the $106,500 range | Source: Coinglass
On Monday, the price moved downward, sweeping the long positions all the way down to $102,000. The short positions, in turn, may create a squeeze and a rapid recovery.
BTC open interest inched down to $31B from a recent peak at $32B. Derivative markets are more speculative, but they also reflect the caution of spot buyers and holders at these price levels.
BTC moved down from its overbought relative strength index (RSI) and is currently in a neutral state. The asset still sees predominant outflows from exchanges on both spot and derivative markets.
BTC still signals accumulation in the background
The profit-taking signal diverges from the long-term rainbow chart, where BTC is still in the accumulation zone. However, with more of the supply in profit, spot selling may accelerate as some large-scale holders have set aside wallets for short-term trading.
BTC accumulation may include purchases from ETF, as well as corporate buyers, including Strategy. Those assets may be held in custodial wallets, not creating or destroying more whales and not being transferred on-chain for safety.
Whale wallets with over 10,000 BTC inched up, adding two more large-scale addresses. The biggest growth is for wallets with 100 to 1,000 BTC, rising by 2,000 new addresses in the past six months. This category is still growing during the first quarter of 2025, though at a slower pace.
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