Bitcoin’s been on a wild ride in 2025 – huge gains followed by big dips, all within months. But its recent climb suggests people are feeling pretty good about it again. It even hit a new all-time high of $111,814 on May 22nd!
Are Investors Cashing Out? Not Yet.
Usually, when a price hits a new high, people sell to lock in their profits, causing a price drop. But some experts think this time might be different.
On-chain analyst Darkfost looked at the Net Realized Profit/Loss metric. This basically measures whether people are selling Bitcoin for more or less than they paid for it. A positive number means overall profit, a negative number means a loss.
Darkfost found that while investors are making profits (around 104,000 BTC, or about $11 billion!), it’s not nearly enough to signal a market top. Historically, a much larger amount (around 350,000 BTC) has been needed before major price corrections.
What Darkfost Says
Darkfost argues that the current profit-taking is normal for a bull market. In fact, he says it’s healthy! Profit-taking keeps investors involved and helps the upward momentum continue.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading around $108,360, down about 2% in the last 24 hours. But according to the analysis, this small dip shouldn’t be cause for alarm.
