Bitcoin tumbles will be ‘less abrupt’ after realized profit drops 76%

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Bitget Academy2024/12/10 05:53

By:Bitget Academy

The sudden price decline from $98,338 to $92,957 triggered over $303.5 million in liquidations of long positions within the hour, pushing total liquidations over the 24 hours to $404 million. However, analysts said signs of “market stabilization are emerging” and “realized Profit RP, which tracks the USD gains from moved coins, peaked at $10.5 billion daily during Bitcoin's surge towards $100,000. However, it has since fallen to around $2.5 billion per day, reflecting a 76 percent drop.”

They explained this suggests that profit-taking has “significantly cooled” and that further sell-offs may be “less dramatic in nature.” Analysts also said that Bitcoin’s funding rates are “stabilizing” too, explaining that the market is transitioning to a “more balanced phase, where volatility is likely to be more contained and price movements less erratic in the medium term.”

The Long Term Holder realized price — the average price paid by long-term Bitcoin holders — is $24,481, representing about a 400% average gain for long-term holders.

Source: CoinTelegraph

Futures Market Updates

The bloodbath of long liquidations brought funding rates to normal levels.

Bitcoin Futures Updates

Total BTC Open Interest: $59.29B (-3.76%)

BTC Volume (24H): $130.33B (+114.57%)

BTC Liquidations (24H): $148.67M (Long)/$41.22M (Short)

Long/Short Ratio: 48.39%/51.61%

Funding Rate: 0.104%

Ether Futures Updates

Total ETH Open Interest: $25.47B (-7.40%)

ETH Volume (24H): $99.54B (+192.90%)

ETH Liquidations (24H): $223.62M (Long)/$26.04M (Short)

Long/Short Ratio: 47.20%/52.80%

Funding Rate: 0.0092%

Top 3 OI Surges

A8: $5.74M (+126.16%)

TROY: $42.55M (+70.45%)

ME: $1.07M (+56.63%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bitget-RWA•2025/09/12 06:14

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Bitget-RWA•2025/09/12 06:14