On-chain analyst Axel Adler Jr. analyzed that despite the rise in BTC price, investors' profit-taking volume is decreasing. He stated, "From mid-May to August 19, transactions realizing losses were almost continuously dominant, but from August 20, the trend shifted to more realized profits. On the 26th of last month, when the BTC price was $78,600, the weekly realized profit recorded $9.1 billion. In contrast, on the 24th of this month, when the price rose to $84,100, realized profit amounted to only $7.3 billion. Although the price increased further, the profit-taking volume decreased by 19%. The realized return rate for short-term holders also decreased from 2.8% on the 26th of last month to 1% on the 28th of this month. This means that investors are postponing sales, expecting further price increases," he explained.
