According to glassnode, investors who held Bitcoin (BTC) for at least 12 months realized over $1 billion in profit per day last week, marking the fifth largest spike of this cycle. Notably, the current selling pressure is primarily driven by experienced, long-term holders rather than short-term speculators (source: glassnode, June 5, 2025). This trend suggests a potential top formation phase for BTC, as profit realization by seasoned investors historically coincides with market cycle peaks. Traders should closely monitor on-chain metrics and profit-taking flows, as such large-scale exits often precede heightened volatility and potential corrections in the broader cryptocurrency market.