Bitcoin had entered a period of price correction following its ascent to an all-time high of $73,700. Miners, whales, and other market participants, including large investors, had begun selling their BTC to make profits.the Bitcoin bull cycle is far from over, as price valuation metrics are largely shy from levels seen in past market tops.CryptoQuant found that unrealized profit margins soared to 69%, its highest level since March 2021, when BTC was trading at around $60,000.
Large BTC holders also offloaded their assets as prices soared above $70,000. Altogether, they moved 567,000 BTC when the digital asset touched its all-time high on March 12, representing 35% of total transfers on the Bitcoin network.
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