Bitcoin (BTC) holders are realizing significant profits, with on-chain data indicating rising selling pressure and weakening demand. Data from CryptoQuant shows that short-term holder unrealized profit margins have hit 33%, the highest since December 2024, leading to a single-day realized profit of 25,700 BTC on September 22. Simultaneously, altcoin exchange inflows have surged to their highest since October 2025. Despite this, the firm’s Bitcoin Bull Score Index remains at 90, suggesting the overall market structure is still bullish. Key support levels are identified near $80,000, $71,000, and $67,000, with analysts noting the market is showing signs of fatigue.
Bitcoin (BTC) remains in a bull market after closing above its 365-day moving average last week, but recent on-chain data suggests momentum is slowing. CryptoQuant said in a recent research note that several indicators now point to higher selling pressure and weaker demand.
Despite these concerns, CryptoQuant’s Bitcoin Bull Score Index remains at 90, as stated. BTC recently reached about $87,400, its highest level in eight months, before pulling back toward the low $83,000 range.
One concern comes from short-term holders, whose unrealized profit margin has risen to 33%. The analytics firm said this is the highest level since December 2024 and that similar levels have preceded profit-taking.
That profit-taking is already showing up in realized gains, with Bitcoin holders cashing out about 25,700 BTC in profit on September 22. It was the largest single-day realized profit figure recorded in 2026, adding to evidence that some holders are selling.
Selling signals are also appearing in the altcoin market. Seven-day cumulative altcoin exchange inflows reached 76,000 transactions involving about 51,000 depositors, the highest levels recorded since October 17, 2025.
At the same time, demand is weakening in both the spot and futures markets. Apparent spot demand fell by roughly 170,000 BTC over the past 30 days. Speculative futures demand growth also slowed, dropping from about 164,000 BTC on September 14 to roughly 16,000 BTC more recently.
Despite these signals, Bitcoin remains above several important on-chain support levels. CryptoQuant identified the 365-day moving average near $80,000 and the 200-day moving average around $71,000 as key levels.
According to the analytics firm, a decline toward these levels could signal consolidation. This would not necessarily mean a broader market reversal if support holds, but continued weakness alongside increased profit-taking could increase the risk of a deeper correction. CryptoQuant described the market as still bullish but showing signs of fatigue.
