加密素养说，比特币（BTC）投资者正在兑现利润。

这些平均每天10亿美元，导致人们担心市场卷土重来可能停滞甚至逆转。

Bitcoin (BTC) risks a “local top or sharp correction” if current levels of profit-taking continue, new research warns.

新的研究警告说，如果目前的获利水平继续下去，比特币（BTC）可能会有“本地顶部或急剧的更正”。

In a “Quicktake” blog post on Monday, onchain analytics platform CryptoQuant flagged elevated realized profits among BTC investors.

在周一的“ QuickTake”博客文章中，OnChain Analytics平台加密标记了BTC投资者的提高利润。

BTC profit-taking spikes to January highs

BTC的利润率达到一月高点

Bitcoin realized profits have spiked to multi-month highs this week as BTC/USD reached close to $98,000.

比特币意识到本周的利润已经达到了多个月的高点，因为BTC/USD达到了近98,000美元。

For CryptoQuant, the market is becoming comparable to late 2024, when the pair broke through old all-time highs and hit $100,000 for the first time.

对于加密量，市场变得与2024年末相当，当时两人闯入了旧的历史高点，首次达到了100,000美元。

“Even after positive price action after March-April drop in 2025, profit taking is still aggressive. Maybe not like November-December 2024 but still high,” contributor Kripto Mevsimi wrote.

撰稿人Kripto Mevsimi写道：“即使在2025年3月至4月下降后的价格上的积极行动之后，获利仍然是积极进取的。也许不像2024年11月至12月，但仍然很高。”

CryptoQuant data puts the current 7-day moving average realized profit across the hodler spectrum at approximately $1 billion per day.

加密数据使当前的7天移动平均值实现了整个霍德勒频谱的利润，每天约10亿美元。

“If we look back at similar cycles (e.g. 2021), this phase often preceded a local top or sharp correction, especially when profit-taking stayed high and continuous.”

“如果我们回顾一下类似的周期（例如2021），则此阶段通常是在当地的顶部或急剧校正之前的，尤其是当利润率保持较高和连续时。”

No hiding from Bitcoin ‘investor psychology’

没有比特币“投资者心理学”隐藏

As Cointelegraph reported, some market commentators have argued that the Bitcoin investment landscape has fundamentally changed thanks to increased institutional participation.

正如Cointelegraph所报道的那样，一些市场评论员认为，由于机构参与的增加，比特币投资格局从根本上发生了变化。

Related: Bitcoin pushes for $98K as 2025 Fed rate cut odds flip ‘pessimistic’

相关：比特币以2025美元的价格推动$ 98K，降低了赔率赔率。

Chief among the new players are the US spot Bitcoin exchange-traded funds (ETFs), the largest of which, BlackRock’s iShares Bitcoin Trust (IBIT), has seen net inflows every day for more than two weeks.

新玩家中的主要人物是美国现货比特币交易所交易基金（ETF），其中最大的是贝莱德的ishares比特币信托基金（IBIT），每天都在两周多的时间内看到净流入。

Despite this, Kripto Mevsimi contends that underlying reactions to BTC price changes remain the same.

尽管如此，Kripto Mevsimi认为，对BTC价格变化的基本反应保持不变。

“Since spot ETFs launched in January 2024, market structure has changed — but investor psychology hasn't. ”output: Key points:

“自2024年1月启动现场ETF以来，市场结构发生了变化，但投资者心理学却没有。”输出：要点：

* Bitcoin investors are making the most of the highest price levels in several months by cashing out profits.

*比特币投资者通过兑现利润来充分利用几个月来最高的价格水平。

* These are averaging $1 billion per day, leading to concerns that the market comeback may stall or even reverse.

*这些平均每天10亿美元，导致人们担心市场卷土重来可能停滞甚至逆转。

* Institutional participation has not led to a change in mindset, CryptoQuant says.Bitcoin (BTC) risks a “local top or sharp correction” if current levels of profit-taking continue, new research warns.

*新的研究警告说，如果当前的利润持续水平继续，机构参与并没有导致思维定势的变化。

In a “Quicktake” blog post on Monday, onchain analytics platform CryptoQuant flagged elevated realized profits among BTC investors.

在周一的“ QuickTake”博客文章中，OnChain Analytics平台加密标记了BTC投资者的提高利润。

BTC profit-taking spikes to January highs

BTC的利润率达到一月高点

Bitcoin realized profits have spiked to multi-month highs this week as BTC/USD reached close to $98,000.

比特币意识到本周的利润已经达到了多个月的高点，因为BTC/USD达到了近98,000美元。

For CryptoQuant, the market is becoming comparable to late 2024, when the pair broke through old all-time highs and hit $100,000 for the first time.

对于加密量，市场变得与2024年末相当，当时两人闯入了旧的历史高点，首次达到了100,000美元。

“Even after positive price action after March-April drop in 2025, profit-taking is still aggressive. Maybe not like November-December 2024 but still high,” contributor Kripto Mevsimi wrote.

撰稿人Kripto Mevsimi写道：“即使在2025年3月至4月下降后的价格上的积极行动之后，获利仍然是积极进取的。也许不像2024年11月至12月，但仍然很高。”

CryptoQuant data puts the current 7-day moving average realized profit across the hodler spectrum at approximately $1 billion per day.

加密数据使当前的7天移动平均值实现了整个霍德勒频谱的利润，每天约10亿美元。

“If we look back at similar cycles (e.g. 2021), this phase often preceded a local top or sharp correction, especially when profit-taking stayed high and continuous.”

“如果我们回顾一下类似的周期（例如2021），则此阶段通常是在当地的顶部或急剧校正之前的，尤其是当利润率保持较高和连续时。”

No hiding from Bitcoin ‘investor psychology’

没有比特币“投资者心理学”隐藏

As Cointelegraph reported, some market commentators have argued that the Bitcoin investment landscape has fundamentally changed thanks to increased institutional participation.

正如Cointelegraph所报道的那样，一些市场评论员认为，由于机构参与的增加，比特币投资格局从根本上发生了变化。

Related: Bitcoin pushes for $98K as 2025 Fed rate cut odds flip ‘pessimistic’

相关：比特币以2025美元的价格推动$ 98K，降低了赔率赔率。

Chief among the new players are the US spot Bitcoin exchange-traded funds (ETFs), the largest of which, BlackRock’s iShares Bitcoin Trust (IBIT), has seen net inflows every day for more than two weeks.

新玩家中的主要人物是美国现货比特币交易所交易基金（ETF），其中最大的是贝莱德的ishares比特币信托基金（IBIT），每天都在两周多的时间内看到净流入。

Despite this, Kripto Mevsimi contends that underlying reactions to BTC price changes remain the same.

尽管如此，Kripto Mevsimi认为，对BTC价格变化的基本反应保持不变。

“Since spot ETFs launched in January 2024, market structure has changed — but investor psychology hasn’t.

“自2024年1月启动现场ETF以来，市场结构发生了变化，但投资者心理学却没有改变。