In a surprise move, Bitcoin news saw price shake off its stagnation and breached the $110,000 resistance to set a new all-time high (ATH) of $111,861.22.
While investors welcome the price growth, it is worth noting that the profit has dropped significantly.
Bitcoin USD Low Profit-Taking Signals Holder Confidence
According to insights shared by Glassnode, Bitcoin profit-taking has dropped considerably despite the huge spike in price.
Notably, only about $1 billion in profits were realized as holders sold above the cost price.
This pales compared to when BTC flipped $100,000 for the first time in the asset’s history. At the time, profit-taking was much higher at around $2.1 billion.
This development shows that even though Bitcoin is worth more, fewer holders are cashing out.
This suggests that Bitcoin holders have decided to hold on to their asset as they anticipate higher price levels in the ongoing bullish rally.
Meanwhile, an analysis of the data shows that BTC sales are more prevalent among newer investors looking to make gains.
Long-held coins by older, more experienced holders did not hit trading platforms. It reflects the confidence these traders have in possible further Bitcoin price gains.
This means that profit has been muted despite the ATH. This development might prove bullish for Bitcoin as long-term holders stay quiet during a rally.
It suggests the market is anticipating further growth and more investors could flock in to purchase the coin, helping to drive demand and price upward.
Bitcoin News: Institutional Demand Drives Surge, Retail Still Absent
Interestingly, Bitcoin USD spike to $111,861 was achieved without much contribution from retail investors.
As Jason A. Williams, a crypto author, highlights, retail investors have indicated little interest in the new ATH.
He observed that, unlike in previous bull runs, even curiosity is low.
“Bitcoin ATH and retail doesn’t care. Google search is at all-time lows,” Williams wrote.
This suggests fewer people search Google for BTC, and institutional funds primarily drive the current rally.
The implication is that Bitcoin is more stable and likely to record a greater increase when the market attracts the attention of retail investors.
Notably, when retail investors flood the market, it could trigger fear of missing out (FOMO) as they engage in speculative trading.
This might lead to sharp price swings as liquidity increases. As a pattern, retail investors generally trade smaller amounts but in higher volumes, making it easier to buy and sell the asset.
The downside is that retail investors could become prone to panic during volatility, leading to massive outflows.
However, in the short term, if the BTC market, with its current bullish rally, gains retail interest, the price could flip to $120,000.
Can Bitcoin Price Push for $120,000 Soon?
In latest Bitcoin news update, the price was trading at $108,507.87, representing a 2.68% drawdown in the last 24 hours. Investors are transacting the coin as trading volume has spiked by 32.86% to $85.64 billion.
The rise in volume indicates that the market remains open to further growth. Bitcoin’s ability to surge towards the $120,000 level might depend on continued institutional demand, among several factors.
Additionally, the BTC USD trend must find support above $110,000 as it awaits retail interest.
A spike in retail interest could push prices up rapidly to $120,000, less than 10% away from current price levels.
Source: https://www.thecoinrepublic.com/2025/05/23/bitcoin-news-profit-realization-muted-is-120000-cycle-top-on-the-radar/