Santiment: Bitcoin Investors Take Profits, But Whales Keep Buying

Analytics platform Santiment has reported that Bitcoin’s Market Capitalization to Realized Value (MVRV) ratio now sits at 21%, indicating that the average BTC investor from the past year is in profit.

Analysts warn this could encourage profit-taking and potentially pressure prices lower in the near term.

The MVRV ratio measures the average gain or loss across holders. At 21%, most participants are comfortably ahead, and Santiment notes this level can be a “danger zone,” where the temptation to lock in profits rises. While not at historical extremes, the current reading suggests selling pressure could persist as Bitcoin consolidates after its recent record highs.

Analysts view the latest pullback as a healthy correction following BTC’s surge above $124,000, with expectations of sideways or slightly downward movement in the short run. Historically, investors tend to sell more aggressively once new peaks are reached, fearing the market has topped locally.

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However, Santiment highlighted a contrasting dynamic: Bitcoin whales are still accumulating. Wallets holding between 10 and 10,000 BTC added approximately 23,000 BTC in the past 72 hours, even after the all-time high. This steady accumulation signals confidence among large holders that prices could climb further despite short-term volatility.

With retail investors securing gains and whales continuing to buy, the market may be entering a tug-of-war phase – profit-taking versus deep-pocketed accumulation.