Profit-Taking Heats Up as Bitcoin Sees $500M+ in Hourly Gains Following Golden Cross
Bitcoin’s recent golden cross may have signaled bullish momentum, but on-chain data shows many investors are using the rally as an exit opportunity.
The 50-day moving average crossed above the 200-day on May 22—an event that pushed BTC to a record high of over $111,000. Since then, the price has pulled back to around $105,600, and profit realization has surged.
According to Glassnode, entity-adjusted realized profits have exceeded $500 million per hour three times in the past 24 hours—levels last seen in February. The metric tracks actual realized gains by filtering out internal wallet transfers and focusing on economically meaningful movements.
Other indicators confirm the trend. The average coin moved has captured a 16% gain, according to the latest SOPR (Spent Output Profit Ratio) data—placing this market phase among the most profitable in Bitcoin’s history.
Though the current behavior doesn’t yet resemble a blow-off top, the data signals a growing appetite among holders to de-risk and secure profits as volatility returns.
With macro uncertainty and institutional narratives shifting—including high-profile ETF filings—investors appear content to realize gains rather than wait for the next leg up.
