TLDR
- Bitcoin short-term trader profits reached their highest level in 21 months.
- Holders realized 25,700 BTC in profits on September 22, the largest daily total of 2026.
- Apparent spot demand contracted by 170,000 BTC over the past 30 days.
- Futures demand growth fell sharply from 164,000 BTC to 16,000 BTC.
- Key Bitcoin support levels stand near $80,000, $71,000, and $67,000.
Bitcoin faces short-term selling risk after trader profits reached their highest level in 21 months, according to CryptoQuant. The firm still views the wider market as bullish, but several onchain and demand measures show weaker momentum.
CryptoQuant research head Julio Moreno said Bitcoin confirmed a new bull market after closing above its 365-day moving average. The firm’s Bitcoin Bull Score Index reached 90 out of 100, despite signs that recent gains may invite profit-taking.
Bitcoin Trader Profits Reach 21-Month High
Short-term traders now hold an unrealized profit margin of 33%, the highest level since December 2024. Moreno said similar profit levels have encouraged traders to secure gains after strong price advances.
Bitcoin holders realized 25,700 BTC in profit on September 22, marking the largest daily total of 2026. The move followed Bitcoin’s rise to $87,400, while spot Bitcoin ETF demand strengthened during the rally as regulated funds attracted fresh capital.
Exchange Inflows Point to More Selling
Selling pressure also appeared across altcoins. Seven-day cumulative exchange inflow transactions reached 76,000, their highest level since October 17, 2025, while depositing addresses rose to 51,000.
Moreno said the increase came from a broad group of holders rather than a few large wallets. The rise in exchange deposits added another selling signal as traders moved more assets onto platforms where they can sell.
Demand Slows Across Spot and Futures
CryptoQuant reported that apparent Bitcoin spot demand contracted by 170,000 BTC over the past 30 days. Bitcoin ETF inflows also slowed sharply after several strong sessions, showing that institutional buying remained positive but lost pace.
Futures demand growth dropped from 164,000 BTC on September 14 to 16,000 BTC on September 29. Moreno linked the recent rally mainly to speculative futures demand and said weaker new demand may limit short-term price gains.
Key Bitcoin Support Levels Come Into Focus
CryptoQuant placed the first major support near $80,000, where Bitcoin’s 365-day moving average currently sits. Recent market data showed BTC recovering above $84,000 after its pullback, while traders continued watching lower support zones.
The 200-day moving average provides another level near $71,000, followed by the trader-realized price near $67,000. Moreno said a pullback toward these levels could remain part of market consolidation if support holds and the broader bull-market structure stays intact.
