Bitcoin holders enjoy the highest unrealized profit margin since June 2025 with Bitcoin rising to a three-month high.
While Bitcoin (BTC) continued to rise in what analysts called a bear market rally, traders and investors increased profit taking. Daily realized profits have risen to levels not seen since early December 2025, while unrealized profits are hovering near levels historically associated with heavy distribution.
According to According to a CryptoQuant report, Bitcoin has risen by 37% since the beginning of April. The assembly has been done Paid Through a combination of easing macro pressures, previous currency devaluations, and a sharp increase in permanent demand for futures contracts. Amid the rally, leading digital assets reached a peak not seen in the past three months.
Bitcoin profit taking increases
On May 4, Bitcoin holders made daily profits of 14,600 BTC, a level not seen since December 10. This represents the highest profit since December 2025, when Bitcoin traded above $90,000. As traders moved back into profitable territory, the Short Term Holder Profit Ratio (SOPR) (STH) rose above 1.016, and stabilized above 1.00. The gauge has been in profitable territory since mid-April.
CryptoQuant analysts insist that historical data shows that increased profits made at key resistance levels precede local tops or ongoing consolidation phases. This suggests that the Bitcoin market could see either outcome after a sustained rally.
On a 30-day rolling basis, Bitcoin holders are achieving net gains of at least 20,000 BTC for the first time since December 22, 2025. This trend follows a period of heavy net losses in February and March, during which investor realization fell to -398,000 BTC.
“The shift from making a net loss to making a net profit is a structural inflection point in bear market dynamics. The crossing back into net positive territory reflects the degree to which the price rally in April and May restored profitability across the shareholder base,” the analysts stated.
Spot demand is still in contraction
Although traders made a net 30-day profit of 20,000 BTC, the number is still well below the 130,000-200,000 BTC threshold associated with bull markets. At the same time, they have the highest unrealized profit margin since June 2025. Unfortunately, this level historically indicates higher risk of a correction, as there is a greater incentive to take profits.
Meanwhile, perpetual demand for futures continued to expand, maintaining the same speculative environment that drove April’s rally. Spot demand remains in contraction, but at a more moderate level than in early 2026. Coupled with subdued exchange flows, the current market environment He carries A significant correction, but it did not reach the distribution peak.
