Bitcoin profit-taking hits new intra-year high as spot and futures market demand cool down in tandem.
According to Coinbase Markets data, Bitcoin holders realized profits on 25,700 BTC on September 22, marking the highest single-day volume since 2026; meanwhile, the unrealized profit ratio for short-term traders climbed to 33%, reaching a new high since December 2024.
Demand has cooled. Over the past 30 days, Bitcoin spot apparent demand decreased by approximately 170,000 BTC, while the growth in futures speculative demand fell from 164,000 BTC on September 14 to 16,000 BTC on September 29.