Bitcoin Near $75K Triggers Massive Profit-Taking Wave

Bitcoin (BTC) is seeing a surge in profit-taking activity as short-term holders move large amounts of BTC to exchanges. New data shows that more than 48,000 BTC in profit were sent to exchanges in a single day, marking a yearly high. The move comes as Bitcoin attempted to break above the $75,000 level, signaling continued caution among traders.

Record profit-taking hits Bitcoin market

According to recent analysis, shared by CryptoQuant’s crypto industry expert Darkfost in an X post on March 18, short-term Bitcoin holders are increasingly using price rebounds as exit opportunities.

Specifically, the data highlights a spike in realized profits flowing to exchanges, suggesting that many investors are choosing to lock in gains rather than hold through volatility. This behavior pushed daily profit transfers to their highest level of the year.

Lack of confidence persists among traders

Despite improving market conditions, short-term holders appear hesitant to take on additional risk. The current macro environment is still viewed as uncertain, leading traders to prioritize quick profits over long-term positioning.

This reflects a broader lack of conviction in the sustainability of the current rally.

$75K level triggers selling pressure

The surge in selling coincided with Bitcoin’s attempt to break above the $75,000 resistance level. Currently, BTC is trading at the price of $73,933.94, which suggests an increase of 0.2% in the last 24 hours, a 6.4 % advance across the past seven days, and an accumulated gain of 7.6% over the month, per the latest chart information.

Rather than fueling a breakout, the move prompted a wave of selling from participants looking to exit into strength.

Each upward move is still being treated as an opportunity to reduce exposure.

Market structure still fragile

The data suggests that while Bitcoin’s trend is improving, underlying market structure remains fragile.

Short-term holders continue to dominate recent flows, and their behavior is keeping upward momentum in check.

A sustained breakout may require stronger conviction and reduced selling pressure from this group.