The current Bitcoin rally has triggered $20.4 billion in realized profits since reaching new all-time highs. This is significant but still falls below historical patterns, where profit-taking typically reached $30-50 billion before market momentum slowed.
This lower profit-taking level suggests the current rally may have more room to grow before hitting the usual exhaustion points seen in previous cycles. Historical data indicates investors aren't yet cashing out at rates that typically signal a market top.