The Bitcoin take profit activity is ongoing as the "big whales" continue to sell off.

Investors holding large amounts of Bitcoin ( whales ) have continuously profited after recently reaching a new peak, continuing a trend that has lasted for many years.

Analyst Willy Woo shared on platform X on June 3 that "whales" holding over 10,000 Bitcoin "have started selling since 2017," in response to the question of who is selling in the context of "institutions and governments racing to buy billions of dollars in BTC."

He explained: "Most of these coins were purchased at prices ranging from 0 to 700 USD and have been held for a period of 8 to 16 years."

The chart shows that the supply held by whale entities, with balances ranging from 10,000 to 100,000 Bitcoin, has steadily decreased over the past eight years. During this period, the amount of Bitcoin held by these entities has decreased by approximately 40%, from 2.7 million down to about 1.6 million BTC.

Woo emphasizes that in the short term, investing in Bitcoin when the price is trading at six figures is not reasonable, but in the next 10 years, it could "become one of the best investments you will see in your investment career."

On June 3, Glassnode announced that the recent breakout of Bitcoin, peaking just below $112,000 on May 22, has led to a "significant increase in locked profits, with the average coin recording a 16% profit."

Only less than 8% of trading days yield profits for investors, "indicating a significant shift in the profit-taking activities that are taking place," they added.

The analysis platform also indicated that realized profits adjusted for entities surged above 500 million USD per hour three times on June 3, "signaling strong profit-taking activity."

Bitcoin holds steady at 105,000 USD

Bitcoin has decreased by 5.5% from its all-time high in May and fell to 105,000 USD on June 3 before recovering to 106,800 USD.

However, the upward momentum has stalled at 105,750 USD at the current time.

Bitcoin has maintained a price above six figures for the longest period in history, which is 27 days, surpassing the previous record of 18 days that it was above 100,000 USD in January.

Mr. Giáo