Bitcoin's price fell below $80,000 on Thursday after briefly reaching $82,500 the day before, marking its highest level since January. The recent 17% monthly gain is classified as a "bear market rally" by CryptoQuant analysts, who warn that increased profit-taking could precede a correction. On May 4, holders realized a daily profit of 14,600 BTC, the highest since December 2025, as short-term traders locked in gains. According to CryptoQuant, such profit spikes at key resistance levels have historically led to local price tops or consolidation phases in bear markets. The 30-day net realized profit for Bitcoin traders has turned positive, indicating more holders are profitable than not. However, the current net profit of 20,000 BTC remains far below the 130,000-200,000 BTC typically seen during bull market transitions, reinforcing the bear market rally classification. For wallet and key holders, this suggests increased volatility and potential downside risk. The report warns of an elevated correction risk as unrealized profits reach levels not seen since June 2025. However, factors like demand for perpetual futures and muted exchange inflows may support short-term price strength. Bitcoin is currently 36% below its all-time high of $126,080, and other major assets like Ethereum and XRP have also declined, with over $269 million in longs liquidated.

Key facts

• Bitcoin fell below $80,000 after reaching $82,500, its highest since January.
• CryptoQuant analysts classify the rally as a 'bear market rally' due to profit-taking.
• Daily realized profits hit 14,600 BTC on May 4, highest since December 2025.
• 30-day net realized profit turned positive, but far below bull market levels.
• Unrealized profits signal elevated correction risk, though short-term strength may persist.

KeyAudit data perspective