#Bitcoin# holders are locking in profits again, and it’s showing up clearly onchain.

We’re seeing one of the highest spikes in realized profits since the start of this bull cycle.

Historically, these waves of profit-taking don’t signal the end of the market but rather a pause, a breather before the next move.

When traders cash out after a strong run, price often dips or consolidates while the market resets.

Today’s drop under $115K lines up perfectly with that behavior.

It’s not a panic-driven sell-off or a full-on trend break; it’s people who rode this move up taking chips off the table.

If history rhymes, this type of cool down can set up the next push higher once profit-taking runs its course.