Bitcoin Profit-Taking Hits Equilibrium—Is This the Calm Before Another Surge?

Realized BTC profits have stabilized near historical norms—a sign of healthy consolidation or a coiled spring waiting to snap upward?

Market Mechanics: When ’Normal’ Isn’t Boring

No panic-selling, no reckless FOMO—just disciplined profit-taking at levels that won’t derail the bull train. Traders aren’t fleeing; they’re playing the long game.

The Wall Street Jab: Meanwhile, traditional finance still can’t decide if Bitcoin’s a ’risk asset’ or digital gold—maybe because their spreadsheets keep short-circuiting.

What’s Next: The charts whisper ’accumulation.’ The only question is whether the next leg up comes in weeks or hours.

Analyst Says Realized Profits Yet To Signal Market Top

In a May 23 post on social media platform X, on-chain crypto analyst Darkfost revealed that the net realized profits by bitcoin investors remain normal for a bull phase. The relevant indicator backing this assertion is the Net Realized Profit/Loss metric, which measures the net profit or loss (in USD) of all coins spent on the network over a specific timeframe. 

This on-chain metric is calculated by finding the difference between the realized profit and realized loss of crypto investors. Positive values from the metric indicate that coins are being spent at a higher price than they were acquired, resulting in a net profit. 

On the other hand, negative values indicate that coins are being spent at prices lower than they were bought, resulting in a net loss. Neutral values simply suggest that coins are being spent close to their acquisition price.

According to on-chain data shared by Darkfost, realized profits are currently at a high level of about 104,000 BTC (a rough equivalent of $11 billion). The analyst, however, pointed out that while this figure is substantial, it still falls short of the 350,000 BTC threshold level (a level which has historically signaled potential tops and preceded major correctional movements of  Bitcoin).

Darkfost inferred from the highlighted data that the net realized profit for a Bitcoin bull phase is currently at a normal level. The analyst noted the necessity of profit-taking in a bull market, implicitly preaching against fear amongst investors.

Darkfost said about profit-taking:

It’s what keeps investors engaged in the market and helps sustain the bullish momentum.

Bitcoin Price At A Glance 

As of this writing, Bitcoin is valued at around $108,360, reflecting a more than 2% decline in the past 24 hours.