The recent Bitcoin ($BTC) price action has gained wide-scale attention, with the latest statistics revealing heightened profit-taking. As per the data from Glassnode, the retail Bitcoin investors are currently engaging in significant profit-taking activity while the whale investors are continuously accumulating. The blockchain analytics platform shared exclusive insights into the ongoing profit-taking spree in the Bitcoin ($BTC) ecosystem on its official social media account.

Bitcoin Faces Aggressive Profit-Taking in Retail Market

The exclusive analytics from Glassnode point out a complex retail engagement in profit-taking activities. However, the whale $BTC investors are consistently accumulating, showing an unwavering faith in Bitcoin’s potential. At present, $BTC is hovering near its all-time high price levels while market seems split between provisional retail caution as well as long-term optimism among institutional investors.

In line with this, the short-term $BTC holders are now locking in considerable profits at different levels above the historical norm. Particularly, Z-Score for realized profit in the case of short-term holders has jumped to 2.89, highlighting a noteworthy elevation in the profit-taking behavior. Nonetheless, historical data indicate that, for demand exhaustion, there is often a requirement for heightened realized profit levels. Hence, this implies that the present rally still has potential room to reach that point.

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Simultaneously, in the spot market, the Spot Cumulative Volume Delta indicator signifies a divergence across diverse platforms. Specifically, Binance presents broad-level spot selling, adding to a regular outflow of $71M. However, Coinbase and the rest of the platforms account for positive inflows of around $45M per day. This points toward the buying activity in the U.S. market. In this respect, the retail investors are aggressively selling while institutional investors are continuously accumulating $BTC.

Spot $BTC ETF See Staggering $434M in Inflows Over Past 2 Days

According to Glassnode, amid the continued U.S. institutional demand for Bitcoin, spot $BTC ETFs have gained notable inflows. Thus, within the past 2 days, ETFs have cumulatively added a stunning $434M. Apart from that, the recent daily inflows have touched the height of $389M/day. Although a short cooldown took place after that, net flows are still notably positive, standing at $58M/day. Overall, the Bitcoin ($BTC) market is going through a classic redistribution phase, marked by retail selling and institutional and whale accumulation.