Coinbase says BTC profit-taking hit yearly high as spot and futures demand cooled

Coinbase says BTC profit-taking hit yearly high as spot and futures demand cooled

Bitcoin profit-taking rose to its highest daily level this year, while spot and futures demand slowed, according to an X post from Coinbase Markets. On Sept. 22, coin holders realized profits on 25,700 BTC, the largest daily amount so far this year, the post said. Unrealized profit margins for short-term traders also reached 33%, the highest level since December 2024. Over the past 30 days, apparent spot demand for BTC fell by 170,000 BTC, while growth in speculative futures demand slowed to 16,000 BTC on Sept. 29 from 164,000 BTC on Sept. 14, Coinbase said.