The on-chain data platform Glassnode reports that despite Bitcoin reaching an all-time high in May 2025, the overall profit-taking amount in the market has significantly decreased to only 1 billion USD, which is less than half of the 2.1 billion USD during the peak period in December 2024.

Data also shows that the current market is dominated by short-term traders, with 76.9% of BTC being held for less than one month as "recent holdings," while the proportion of "long-term holdings" exceeding 6 months has fallen to 13.4%. Long-term holders are clearly reducing their trading, reflecting their continued bullish outlook on the market.
Analysis indicates that as the BTC price rises to 111,500 USD, some investors are starting to shift their attention to potential higher-yield Altcoins, which may trigger a change in market focus.