Bitcoin Hits All-Time High: $2 Billion in Realized Profits Signals Bull Market Momentum

According to COINOTAG News on May 22nd, on-chain analyst Murphy has provided insights following Bitcoin’s recent surge past its previous all-time high. The analysis indicates that the cryptocurrency has realized profits totaling approximately $2 billion, which signifies a substantial *profit-taking* event, often characteristic of a robust bull market phase. Higher profit realization can correlate with increasing momentum. Traders are advised to refrain from adopting a bearish outlook at this juncture, unless decisive signs of market decay emerge. Drawing parallels with the 2021 price peaks, when Bitcoin’s initial peak saw profit-taking soar to $22 billion, contrasted with the subsequent peak of only $17 billion, underlines the concept of momentum erosion. Although current pricing remains stable, the market may begin to exhibit signs of fatigue as substantial profit-taking events deplete demand. Such market insights are strictly for informational purposes and should not constitute *investment advice*.