Bitcoin Profit-Taking Slows as Market and Maxi Doge Start Pump
Bitcoin short-term holders are finally chilling out.
After weeks of aggressive profit-taking near the $123K peak, new Glassnode data shows that spending activity from recent buyers has cooled off – a signal that the worst of the post-ATH dump might be behind us.
That’s a big deal. When short-term holders stop rushing for the exits, it gives long-term buyers room to accumulate without fighting constant sell pressure. In other words, the bull cycle gets to breathe again.
Profit-Taking Drops as Bitcoin Floats Around $115K
Glassnode’s latest report paints a calmer picture of the Bitcoin market. Short-Term Holder (STH) Spent Volume (a key metric that tracks how many recent buyers are selling) has dropped to 45%, sliding below the neutral 50% line.
That means fewer newcomers are cashing out, even as $BTC trades just under $115K.
On top of that, 70% of STH supply is still in profit, signaling that recent buyers haven’t been shaken out.
Glassnode called it a ‘relatively balanced position’ that aligns with the mid-phase of previous bull markets. In other words, it’s not euphoric, but far from bearish.
Onchain tracker Checkonchain backs this up. According to its SOPR analysis, many of the folks who bought near the $123K top are now capitulating at breakeven – classic weak-hand behavior. But that’s exactly what strong markets need: the exit of uncertain traders, replaced by conviction buyers.
Historically, STH capitulation clears the runway for upside continuation. With major voices like Tom Lee still eyeing a $250K target for 2025, this consolidation might just be the pit stop before the next leg. If $BTC holds its ground into Q4, the appetite for risk is only going to grow.
Meme Coin Appetite Grows When $BTC Stabilizes
When Bitcoin chills, meme coins cook. It’s a familiar pattern — once $BTC stabilizes, traders itching for bigger gains start rotating into high-risk, high-reward crypto plays. Meme coins sit at the top of that list, offering insane volatility with outsized upside.
We’ve seen this movie before. Back in May 2021, $DOGE hit $0.7376 as Bitcoin coasted near its then-ATH. Fast-forward to late 2024: as $BTC surged post-election, $DOGE nearly broke $0.50 again.
Around the same time, $PEPE exploded to an all-time high of $0.00002825 in December, all while Bitcoin rallied in the background.
That’s the opportunity in front of us now. With profit-taking easing off and Bitcoin holding firm above $110K, traders are already eyeing the next big crypto runner.
Maxi Doge ($MAXI), a satirical beast of a token built for the 1000x leverage era, positions itself as…
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