CryptoQuant: Bitcoin on-chain indicators show that selling pressure is increasing, and the risk of profit-taking is rising

According to The Block, CryptoQuant's research director Julio Moreno stated on Wednesday that Bitcoin's recent rally is facing an increasing risk of profit-taking, with multiple on-chain indicators showing that selling pressure is strengthening. Currently, the price of Bitcoin has slightly retreated but is testing the on-chain "realized price" of $76,800 for traders. This level is seen as a significant bearish resistance, historically often limiting the rebound space, as holders close to breaking even are more inclined to sell for profit, thereby suppressing further increases.

Moreno pointed out, "This price range precisely capped the price increase during the bear market rebound in January 2026 and reversed downward after reaching that level. If the current selling pressure continues to strengthen, a similar trend may occur again." He added that if the resistance level holds, approximately $67,600 below will become the main short-term support. The report also noted that the proportion of large trades has rapidly increased from less than 10% to over 40%, and historically, this level usually corresponds to strong short-term selling pressure. Profit-taking has not yet peaked. Currently, the daily realized profit is about $500 million, below the $1 billion threshold that historically marks significant sell-off peaks.

Finally, Moreno stated that if Bitcoin remains above $76,000, or even approaches the realized price level of $76,800, the daily realized profit could accelerate to over $1 billion, thereby increasing selling pressure and raising the likelihood of a temporary top or correction in the market.