Analytical company CryptoQuant reported that despite bitcoin reaching a new all-time high of more than $126,000, investors continue to hold their positions.
Profit-taking activity remains at relatively low levels even after Bitcoin reached a new all-time high of $126K last Monday.
This suggests that Bitcoin may continue to rally, and that a top is still not on the horizon.
Our latest report: https://t.co/rbwFTqPIZh
— Julio Moreno (@jjcmoreno) October 8, 2025
“Profit-taking activity remains at relatively low levels even after Bitcoin hit a new all-time high of $126K last Monday. This suggests that Bitcoin may continue to rally, and that a top is still not on the horizon,” said Julio Moreno, Chief Analyst at CryptoQuant.
Experts estimate that the net realized profits of bitcoin holders over the past 30 days amounted to about 0.26 million BTC (approximately $30 billion). This is 50% lower than the levels observed during the formation of price peaks and significantly less than the indicators:
- July 2025 — 0.53 million BTC ($63 billion)
- March 2024 — $78 billion
- December 2024 — $99 billion
The report notes that low levels of profit taking indicate the absence of large-scale sales, which means that the market remains in a growth phase.
As a reminder, QCP Capital analyzed that the US government shutdown was a factor in bitcoin’s growth, which led to the first cryptocurrency being considered a defensive asset.
According to CryptoQuant, annual realized gains continue to grow, which usually supports price increases. In 2021, prices peaked just as annualized return growth began to slow.
Short-term investors recorded a return of just 2%, well below the 8% typically seen at market peaks.
Long-term holders have an average realized return of 129%, which is also well below the extreme levels of 300% (x4) that traditionally signal the end of a cycle.
Even bitcoin holders with more than 10 years of experience are not showing any selling activity at the moment. Over the past 30 days, only 5,000 BTC have been spent, which is half the amount of the peaks in March and December 2024 and 29% below the May 2025 high.
Earlier, CryptoQuant analysts predicted that bitcoin could rise to $130,000 as the market continues to maintain a bullish trend despite the slowdown. The company’s experts expect the current market to peak in October-November 2025, when investors will start to gradually take profits.
Experts also note that after more than 500 days since the last halving, the market is approaching the final phase of the cycle, but sales are gradual — long-term owners are selling assets in parts, which mitigates price fluctuations.