Bitcoin (BTC), the world’s leading cryptocurrency in terms of market capital, has seen its on-chain activity accelerate over the last few days. The currency is now hitting new highs all the time. As a consequence, several metrics indicate renewed interest by both long-term investors and recent participants.
Bitcoins older than a year are still moving at a high profit-taking rate
A CryptoQuant Quicktake by contributor Kripto MEVSIM shows that Bitcoin’s Coin Days Destroyed has risen significantly in the last week. The metric climbed to 28 million, signalling that older BTC – dormant for extended periods – has begun moving again.
Uninitiated users can measure the amount of old coins that have been moved using the CDD by multiplying their number by the time they’ve held them. CDD spikes indicate that Bitcoins are being used or transferred after a long period of inactivity. This is often a sign from long-term investors.
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Historical data shows that CDD spikes typically precede strategic shifts – often large holders either redistributing supply or repositioning portfolios. These activities are often observed near local or cycle tops.
Bitcoin Net Realized Loss and Profit (NRPL), in addition to the CDD’s rise, has seen a sharp increase. Recently, this metric surpassed $4 billion. This is the highest since Q2 of 2025.
Bitcoin NRPL is the difference in price between when coins are bought, and at what price they will be sold. An NRPL that is high indicates profits for investors, while a NRPL below zero suggests widespread sales at a loss. This can be due to fears or market capitulation.
As NRPL reaches levels last seen in early Q2 2025 it indicates that Bitcoin whales, and new buyers of Bitcoin are actively taking their profits. BTC has been relatively stable despite the increase in profit-taking. It trades between $116,000 to $120,000.
The lack of a sharp price pullback amid such profit-taking points to two possible scenarios – either demand remains strong enough to absorb sell pressure, or a delayed correction could be on the horizon. The analyst stated:
It’s interesting to note that this latest wave has a different feel from what happened in June. Back then, NRPL showed a mix of realized losses and modest profits – suggesting capitulation from late buyers while older holders quietly accumulated. The narrative has flipped today: older coins are flowing, and profits have taken over.
BTC exchange data suggests a warning
Recent exchange data suggests that despite the fact that there was no sharp drop in prices, there is still a strong demand. concerns. In particular, Bitcoin flows to cryptocurrency exchanges are down. seen A sharp increase.
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Inversely, there are other indicators that track sentiment suggest that despite BTC’s new highs, retail hype remains subdued – unlike in previous ATH phases – implying potential for further upside. BTC was trading at $116.760 as of press time. That’s a drop of 2.6% over the last 24 hour.
Charts and image are from TradingView.com, CryptoQuant.
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Source: www.newsbtc.com
