"Daily Realized Profit of Bitcoin in January $3 Billion... Selling Pressure Decreases"

This month, the daily realized profit of Bitcoin (BTC) has significantly decreased compared to last month.

The on-chain analysis firm CryptoQuant reported in its weekly analysis report on the 27th, "In December, when the price of Bitcoin approached $100,000, investors realized profits of up to $10 billion a day," and "However, in January, the daily realized profit fell to the level of $2 billion to $3 billion." CryptoQuant added, "This suggests that most investors have already completed selling Bitcoin," and "The unrealized profit ratio of traders has become almost zero (0), which is usually interpreted as a signal indicating the price bottom in a bull market."

However, it pointed out that the increase in demand for Bitcoin spot has slowed. CryptoQuant analyzed, "The real demand for Bitcoin is still expanding, but the speed has decreased significantly compared to last month," and "For the price to rise significantly, the increase in spot demand needs to accelerate again."