Glassnode: Bitcoin's profit-taking is only half of its previous historical high, indicating there is still room for growth

“While profit-taking has been strong, it remains below all-time highs, suggesting there is further room to move higher before potential demand exhaustion is reached,” Glassnode said in a recent market report. Glassnode explained that since Bitcoin surpassed $73,679 on November 5, “realized profits” have averaged about $1.56 billion per day, nearly half of the $3 billion seen during the previous all-time high in March. “Since entering the latest ATH discovery phase, we have observed $20.4 billion in realized profits,” the report added.