• Bitcoin surged from $17k to $21K since Jan. 11, leading investors to lock in $400M of realized profit on Jan. 17.
• Over $2B of realized profits have been taken since Jan. 11.
• On a 7-day basis, realized profit has been the highest since April 2022, amounting to over $125M.
As Bitcoin continues on its upward trend, investors have been taking the opportunity to lock in profits. Since Jan. 11, Bitcoin’s price has surged from $17,000 to $21,000 – an increase of 24%. This surge in value has allowed investors to take the opportunity to take profits, with over $2B in realized profits being taken since Jan. 11.
On Jan. 17, investors took the opportunity to lock in the most amount of profit since April 2022, with over $400M in realized profit being taken on the day. This is the highest amount of profit locked in on a 7-day basis since April 2022, amounting to over $125M.
Net Realized Profit/Loss is the net profit or loss of all moved coins and is defined by the difference between Realized Profit – Realized Loss. This surge in profits has been attributed to the increase in Bitcoin’s price, as investors have been taking the opportunity to lock in profits while the price is still high.
The surge in profits has also been attributed to the concurrent buying of Bitcoin and Ethereum in the EU, US, and Asia, which has broken the 6-month trend. This has led to an increase in mining profitability, with the hash rate reaching a new peak.
This surge in profits is a positive sign for the cryptocurrency market and could be indicative of further gains in the near future. As investors continue to take advantage of the current market conditions, they could see even more profits in the future.