Bitcoin Consolidates Near $77,000 as Traders Bank $1.72B Profits

Bitcoin traded around $77,000 on Monday following a surge exceeding 23 percent last week—its strongest weekly performance since mid-March 2023. The rally was triggered by the US Treasury's announcement of expanded debt buyback operations, which lifted sentiment across cryptocurrency markets.

On-chain data reveals that some investors are taking profits as bitcoin approaches the psychologically significant $80,000 level. CryptoQuant data showed that holders realised approximately $1.72 billion in profits on Friday, the highest daily total since late November 2024. The rapid price increase moved many previously underwater positions back into profitability, prompting some to exit. Historically, sharp spikes in realised profits can precede consolidation or a temporary pullback as supply pressures the market.

Despite the profit-taking, underlying demand indicators suggest strength. CryptoQuant's apparent demand metric moved into positive territory after remaining negative since late February, signalling that net buying interest has recovered. This shift could provide support even as some holders reduce exposure. However, traders are watching whether buyers can maintain momentum as bitcoin consolidates below $80,000.

Institutional investors contributed significantly to last week's advance. US spot bitcoin ETFs recorded approximately $1.92 billion in net inflows—the largest weekly total of the year and the strongest since mid-October 2025. Sustained inflows could bolster bitcoin's attempt to overcome nearby resistance, while any slowdown in institutional demand may make it harder for the asset to sustain recent gains.