Bitcoin profit-taking may rise amid rally

Bitcoin has experienced a significant price increase since early April, surpassing 20% gains and reaching a three-month high. This rally is attributed to factors including prior undervaluation, easing macroeconomic pressures, and a surge in perpetual futures demand. Despite this upward trend, onchain analytics firm CryptoQuant characterizes the movement as a "bear market rally." The firm observes that Bitcoin holders are increasingly realizing profits, with daily profits reaching levels not seen since December 2025. This suggests that while the market is showing positive momentum, a potential correction could still be on the horizon.