Bitcoin’s $126K Record Run Has Plenty of Fuel Left as Profit-Taking Remains Muted: CryptoQuant

Bitcoin just smashed through another psychological barrier—hitting $126,000 as institutional money floods in while retail investors barely flinch.

The Real Unrealized Profit/Loss metric shows long-term holders aren't budging despite the massive gains. Less than 5% of circulating supply moved to exchanges during this rally—a fraction of previous cycle peaks.

CryptoQuant analysts note the 'profit-taking resistance' remains remarkably low compared to historical patterns. When long-term whales hold tight through record highs, it typically signals deeper conviction in further upside.

Meanwhile, traditional finance veterans keep scratching their heads—still waiting for that 'inevitable correction' they've predicted since Bitcoin crossed $50,000. Some things never change in finance—except Bitcoin's price trajectory.

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Bitcoin has been a high-performing asset

Despite extreme volatility, Bitcoin's price has skyrocketed 1,060% in the past five years as I write this. This monster gain would've turned a $10,000 initial capital outlay in October 2020 to a whopping $115,700 on Oct. 6. The stock market's performance during the same time doesn't even come close to Bitcoin's impressive showing.

There are powerful trends lifting Bitcoin

Bitcoin's rise has been nothing short of spectacular. The top crypto has benefited from huge amounts of government spending and debt, which increases the money supply. As a result, capital has flown to Bitcoin, an asset that has a hard supply cap.

Moreover, the financial services industry is embracing Bitcoin in different ways, most notably with spot Bitcoin exchange-traded funds (ETFs). And there is a more favorable regulatory backdrop for ongoing innovation to take place, boding well for Bitcoin's future.