Bitcoin Correction Looms as Realized Profits Peak
CryptoQuant warns of a potential Bitcoin correction due to surging realized profits and cooling spot demand. The firm's analysis suggests that the market should be cautious, as the current dynamics resemble those seen during the 2022 downturn.
The highest level of daily realized profits since December 10, 2025 was reached on May 4 at 14,600 BTC. By mid-August, this figure peaked in the range of 23,000 to 25,700 BTC, resulting in roughly 110,000 BTC in net realized profits since mid-August alone.
The Coinbase Premium Index has consistently turned negative throughout 2026, indicating that US buyers are paying less than the global average. CryptoQuant characterizes recent rallies as 'speculative' or 'bear market rallies', driven primarily by futures and derivatives activity rather than genuine spot accumulation.
CryptoQuant CEO Ki Young Ju notes that exchange inflows remain relatively low, meaning holders aren't rushing to deposit Bitcoin onto exchanges en masse. This is seen as a bullish data point in the current environment.