Bitcoin holders profit modestly as price spikes, while ETFs draw larger inflows

Bitcoin rallied 44% this quarter to near $85,000, its strongest performance since late 2024. The price jump has led some holders to lock in profits, but the scale of realized gains is modest compared with earlier market tops.

Realized profits lag prior peaks

Data from Bitfinex shows that investors have booked about $2.4 billion in realized profits after moving coins on‑chain at prices above their cost basis. By contrast, daily realized profits at previous peaks ranged between $7 billion and $10 billion.

ETF inflows outpace holder cash‑outs

U.S. spot Bitcoin ETFs have recorded a net inflow of $2.84 billion over the past six days, exceeding the total realized profits of Bitcoin holders in the same period. Year‑to‑date, ETF inflows stand at roughly $800 million.

Ether shows parallel bullish signs

Bitfinex reports that about 410,000 ETH have left exchanges in the last month, while U.S. spot Ether ETFs have attracted $680 million across four sessions, indicating strong demand for the asset.

Market backdrop

Despite a recent $452 million hack at Bitget, major cryptocurrencies have shown no immediate weakness. Traditional markets see a pause in the rally of the Dollar Index and Treasury yields, while oil volatility remains elevated amid geopolitical headlines.