Bitcoin: 110,000 BTC moved after the rally, should we fear a drop?

According to data from CryptoQuant, bitcoin holders have made 110,000 BTC in net profits since August 19. Such profit taking takes place after a rally which took the price from less than $65,000 to more than $82,000. Bitcoin is now rising around $80,000, while many indicators point to a slowdown in demand. Thus, the risk of correction increases, however the overall trend is not yet bearish.

Four indicators signal a loss of dynamism

While the crashes are decreasing, on August 21, the net profits made were around 23,000 BTC. Indeed, this is the highest daily level this year. Their cumulative amount amounts to 110,000 BTC since August 19.

This statistic does not reflect that 110,000 bitcoins were necessarily sold on exchange platforms. The indicator measures the profits associated with bitcoins moved at a price higher than their value during their previous transfer. Various movements therefore amount to internal operations or transactions between portfolios, depending on the CryptoQuant report.

Multiple statistics summarize the tensions currently weighing on this market:

• 110,000 BTC in net profits have been made since August 19;
• The daily peak reached 23,000 BTC on August 21;
• Apparent demand briefly increased by 43,000 BTC before returning to contraction;
• The Coinbase Premium Index has returned to negative territory, around -0.05.

At current prices, 110,000 BTC is almost $8.8 billion. This conversion provides an order of magnitude, however it does not correspond to the exact profit received. Profits were calculated at different prices during the period.

American demand no longer supports the rebound

Bitcoin gained more than 20% between August 19 and 21. Its price had gone from less than $65,000 to around $80,000. Then, it exceeded $82,000 before being rejected and falling back below $80,000.

This rapid increase allowed investors who entered lower to secure part of their gains. For CryptoQuant, such a phenomenon reflects a classic cooling stage after a rebound movement.

The analytics company revealed so in his report:

This is a characteristic of a bullish cooling. The signal remains positive, because profits are made during a strong phase, but their concentration can limit the increase in the short term.

However, the decline in apparent demand reinforces caution. Such data measures the net accumulation of bitcoins by active holders. Following an expansion of 43,000 BTC, its pace returned to the red.

Signs of weakness are also observed in American demand. As for the Coinbase Premium Index, it compares the price of bitcoin on the exchange to that observed on other exchange platforms. A negative value signals that US buyers are paying slightly less, indicating less demand.

Three previous periods of weakness in this indicator have already limited bitcoin’s rises in 2026. Continued profit-taking, without feedback from buyers, would therefore accentuate the selling pressure.

The threshold of $83,000 for bitcoin remains decisive

The data does not yet support the start of a new bear market. Thus, CryptoQuant’s Bull Score is around 70, above the threshold of 60 historically associated with lasting bullish stages.

CryptoQuant estimates: “the general picture remains constructive. Bitcoin remains in the first phase of a new bull market, even as near-term momentum slows ».

Now, the main resistance is located around $83,000. This is a level that corresponds to the 365-day moving average, which had already stopped the price in May.

According to analysts, “the official bull market will begin when the price closes above its 365-day moving average”. A lasting close above $83,000 would therefore reduce the risk of a significant correction.

Conversely, remaining below $80,000, followed by further profit-taking and negative demand, could weaken the rise. The 110,000 BTC achieved then represent a signal of caution in the short term, but not yet proof of a lasting bearish reversal.