Bitcoin $1B daily realized profits signal 'late-stage bull market'

Key points: Bitcoin investors are making the most of the highest price levels in several months by cashing out profits. These are averaging $1 billion per day, leading to concerns that the market comeback may stall or even reverse. Institutional participation has not led to a change in mindset, CryptoQuant says. Bitcoin (BTC) risks a “local top or sharp correction” if current levels of profit-taking continue, new research warns. In a “Quicktake” blog post on May 8, onchain analytics plat...