The market is showing signs of contraction following significant profit-taking from investors holding for over 1 month (excluding daily traders).

Let’s look at when and how much profit was realized (30D-EMA) across the top 5 assets:

Bitcoin (BTC)
On July 18, >1-month BTC holders realized over $1.5B in profit, marking the largest profit-taking spike since December 2024.

Ethereum (ETH)
On August 16, realized profit peaked at $575M, the largest profit-taking spike of this cycle so far. A clear sign of longer-term ETH holders taking risk off the table.

Solana (SOL)
On August 17, >1-month holders realized over $105Min profit, the biggest profit event since the early 2025 surge.

XRP
On July 24, profit-taking by longer-term holders spiked to $375M, suggesting strong distribution similar to December 2024 rally.

TRON (TRX)
August 6 saw a profit realization peak of $230M, highest in Tron’s history, reflecting broader sell pressure across altcoins.