CryptoQuant: Bitcoin Bull Market Shows Signs of Cooling as Holders Take Profits and Demand Weakens

# Quick summary

CryptoQuant reports the Bitcoin bull market still reads as bullish on many measures, but several on-chain indicators show the recent rally is losing steam. Short-term holders are booking profits, spot and futures demand have weakened, and more altcoins are flowing onto exchanges. Bitcoin remains above important moving-average supports, which frames the current environment as one of possible consolidation rather than an outright regime change — unless selling continues and support breaks.

# What changed recently

Bitcoin rose to about $87,400 before pulling back toward the low $83,000 range. That price action triggered measurable behavior shifts on-chain. Short-term holder unrealized profit moved to 33%, a level last seen in December 2024, and one that historically precedes profit-taking. On September 22, realized gains showed about 25,700 BTC cashed out in profit, the largest single-day realized profit recorded in 2026.

# Altcoins moving to exchanges

CryptoQuant flagged a large uptick in altcoin exchange inflows. Over a seven-day window, cumulative altcoin inflows hit 76,000 transactions involving about 51,000 depositors, the highest since October 17, 2025. That pattern indicates selling pressure beyond Bitcoin and suggests traders may be reallocating to cash or preparing to exit positions.

# Spot and futures demand have cooled

# Key support levels still in play

# What this means for the next phase

The market is in a position where increased profit-taking and weaker demand raise the risk of a deeper correction in the near term. The decisive factor will be whether buying demand returns quickly enough to absorb selling. If support levels hold, expect consolidation. If selling continues and those support levels are breached, downside risk increases.

# Practical near-term watchlist

• Monitor realized profit flows and short-term holder unrealized profit for renewed spikes in selling.
• Watch apparent spot demand and futures demand metrics to see if absorption returns.
• Track altcoin exchange inflows as a proxy for broader risk-off behavior among crypto holders.
• Keep the 365-day MA (~$80,000), 200-day MA (~$71,000), and trader-realized price (~$67,000) on price charts as potential consolidation or test zones.

Overall, CryptoQuant labels the structure bullish but fatigued. The coming sessions will show whether buyers re-enter to push the trend higher or whether the market shifts into a consolidation near the identified supports.