Glassnode: The strength of Bitcoin's profit-taking is lower than its historical high, indicating there is still room for growth

On November 13, Glassnode stated in its recent market report: "Despite a large degree of profit-taking, it is still below the historical high. This indicates that there is room for further increase before reaching potential demand exhaustion."

Glassnode explained that since Bitcoin broke through $73,679 on November 5th, the "realized profits" have been about $1.56 billion per day on average, almost half of the previous historical high of $3 billion in March. The report added: "Since entering the latest ATH discovery phase, we have observed realized profits of $20.4 billion."