Bitcoin investors are currently taking advantage of the highest price levels in months, averaging $1 billion in daily realized profits. This trend raises concerns about the longevity of the current bull market, as continuing profit-taking may lead to a stall or even a reversal. According to on-chain analytics platform CryptoQuant, realized profits have reached multimonth highs as BTC/USD approaches $98,000. The research indicates that this scenario is characteristic of late-stage bull markets, where profit-taking prevails despite rising prices. Historical patterns suggest that high levels of profit-taking often precede a local top or sharp price correction. While there has been increased institutional participation in Bitcoin through products like spot Bitcoin exchange-traded funds (ETFs), the underlying investor psychology remains unchanged. Market experts emphasize the importance of monitoring profit-taking trends to gauge future market movements.

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