
While You Were Refreshing the Price Chart, Bitcoin Bags $650B in Realized Gains—And That’s Already Bigger Than 2021’s Entire Run
Bitcoin wallets have already locked in over $650 billion in realized gains this cycle—surpassing the entire 2020-2021 run. That record profit-taking, fueled by three distinct sell waves, hasn’t broken price momentum thanks to ETF inflows and mature market depth. While I’m cautiously bullish heading into the halving, miner behavior, macro surprises, and retail inertia are the wildcards to watch.