Bitcoin Profit-Taking Rises, But Analysts Say It May Fuel the Next Rally

Bitcoin holders are increasingly locking in profits, but that doesn’t mean the bull run is over. According to a new report from blockchain analytics firm Santiment, the current wave of Bitcoin profit-taking could actually support further growth in the market.

In its Biweekly Report published on May 29, Santiment remained confident in Bitcoin’s long-term trend, even after a recent 10% price correction that brought BTC below $105,000.

Profit-Taking Helps Sustain Bull Markets

Santiment’s research pointed to the Mean Dollar-Invested Age (MDIA) — a metric that tracks how long coins remain in wallets without moving. Since mid-April, this number has been steadily declining, indicating that older coins are re-entering circulation.

“A falling MDIA usually supports bullish momentum,” the report explained. “It means older coins are being spent, increasing network activity and helping the market grow.”

Over the last six weeks, the average holding period dropped from 443 days to 426 days. While this suggests that many investors are taking profits, Santiment emphasized that this trend is not driven by short-term speculation.

“Some degree of profit-taking is healthy,” the analysts noted. “It keeps the market active and prevents stagnation.”

One Whale Pays the Price: $99M Liquidation

While many traders managed to exit with gains, not all were so fortunate. James Wynn, a whale from the trading platform Hyperliquid, had his long BTC position liquidated for $99 million when the price dipped below $105,000.

On-chain analysts noted that the liquidation removed a major source of upward price pressure, contributing to the sharp pullback. A massive 7,000 BTC was also moved off exchanges on May 30, which trader Merlijn attributed to a single entity.

Despite these movements, market sentiment remains largely bullish. Many analysts view the recent dip as a healthy consolidation, not a reversal. With increasing network activity and investor engagement, Bitcoin appears poised for another leg up in the coming months.

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