Bitcoin Profit-Taking Moves to Binance Hit Record High: Break-Even Level Being Tested

CryptoQuant reported that Bitcoin’s UTXO movements in profit heading to Binance have reached a historical record, which could increase selling pressure at the break-even level.

According to data from the on-chain analysis platform, the number of UTXOs moving in profit reached a new peak yesterday, surpassing the record set during Bitcoin’s previous market top. This movement emerged as Bitcoin once again approached the cost basis of recent buyers.

The previous record was formed during a period when Bitcoin was trading near its all-time highs. At that time, investors were motivated to realize high profits. The new record occurs in a different environment, as Bitcoin approaches the STH Realized Price level.

Bitcoin Break-Even Supply Pressure Increases

STH Realized Price shows the average cost paid for Bitcoin by short-term holders. These investors, who had been in the red for a long time, found an opportunity to recover their capital without significant loss as the price approached their cost levels. In the CryptoQuant chart, it is observed that the profit-taking movement heading to Binance made a significant jump, reaching the 10.9k level in the recent section. However, this data does not mean that every moving coin is being sold; it only indicates that ready-to-sell supply and profit realization sensitivity have increased.

The market’s next direction will depend on whether this supply can be absorbed by buyers. Reclaiming the STH Realized Price, SOPR remaining above 1, and improving spot demand could indicate that break-even sales are being met. In CryptoQuant’s support and resistance chart, the Bitcoin price and the short-term holders’ cost basis line are seen converging in the recent period. If the level is rejected, the recovery could turn into exit liquidity where trapped investors sell off. CryptoQuant’s risk indicator also classifies this picture in the high-risk zone.