Bitcoin Profit Taking Surges Following Golden Cross: $500M+ in Hourly BTC Cashouts Discovered Bitcoin profit taking has ramped up quickly following the bullish golden cross pattern, with on-chain data showing over $500 million in hourly BTC outflows. This sudden increase in sell-side pressure has led to plenty of debate amongst the crypto trading community, causing worry about short-term volatility while also spurring discussion on the potential future of Bitcoin.
Golden Cross Stimulates Rally, but Triggers Taking Profit
The recent golden cross, which is a bullish technical indicator where Bitcoin’s 50-day moving average crossed above its 200-day indicator, was supposed to create the momentum needed to create a sustained rally for Bitcoin, but instead triggered profit taking in Bitcoin.Large holders, or “whales,” viewed the price rise as a great exit point after weeks of accumulation.
According to data from prominent blockchain analytics firms Glassnode and CryptoQuant, over $500 million worth of BTC that was sold in just one hour, just after the confirmation of the golden cross. This indicated that there were a considerable number of sellers in Bitcoin, which has introduced a level of caution in the broader market, with Bitcoin now consolidating around $69,000–$70,500.
On-Chain Metrics Back Up Sell-Off
On-chain data is demonstrating several compelling trends which truthfully support the idea of profit taking in Bitcoin. There have been significant spikes in exchange inflows, which indicates that a large number of wallets are moving BTC onto centralized exchanges with the intention of liquidating (selling). The Spent Output Profit Ratio (SOPR) has also broken above 1.0, confirming that the coins sold in this episode were sold at a profit.
Whale activity has backed this pattern up, with high-value wallets holding 1,000 BTC or more (whales) dumping approximately 12,000 Bitcoin over the last 48 hours, helping to provide the clarity at a market-wide level regarding profit taking in Bitcoin.
Derivatives Space Takes Another Shot
The derivatives space has not been spared from the selloff. Open interest in Bitcoin futures declined by a sudden $1.8 billion as a result of forced liquidations and liquidating positions in a more conservative manner. Funding rates, which we know are indicative of market bias (positively of lean speculative sentiment), have turned slightly negative as the short sellers are showing some success in light of continued profit taking on Bitcoin.
This degree of reversal seemed to surprise the most bullish of traders. Several leveraged long positions were liquidated just as Bitcoin dipped briefly below $69,000 at what was probably peak cashout activity. The futures market now demonstrates lower volatility periods and smaller ranges, indicating that the selling may have topped out for derivatives.
Large-Scale Investors About-Leverage Profits
Large wallets that had been increasing BTC exposure through Q1 2025 have now joined the group of Bitcoin profit taking. Major players (Grayscale) and big OTC desks executed significant bulk transfers to exchanges reportedly as part of a pre-planned exit due to the anticipated golden cross price spike. The iShares Bitcoin Trust at BlackRock recently saw reported outflows over $150M in the last 72 hours. This does not mean long-term bearish sentiment, but a strategy for short-term profit-taking by institutions soon ready to act on a fresh entry.
Retail market sentiment shifts from euphoria to caution
Retail sentiment which was euphoric after the golden crossover, has turned cautious. The Fear and Greed Index readings show retail sentiment fell from readings of “Extreme Greed” to readings of “Neutral” in less than a 24-hour span. Crypto traders on influencer sites and analysts are warning retail traders to prepare for increased volatility as profit-taking in Bitcoin continues across several exchanges at this time. Increased pressure to sell often means markets are correcting more broadly. Nevertheless, in this situation, so far it appears to be a controlled dip. Bitcoin has strong bid support at the $68,500 level, which suggests we are not looking at panic selling just yet. If this orderly corrective action develops, it may provide some chances for long-term investors looking to re-enter at lower price levels.
What’s Next for Bitcoin?
Although there is Bitcoin profit taking still occurring, many analysts think this is healthy. Historically, golden crosses usually result in short-term corrections before long-term bull rallies, and the current price action is aligned with this previous cycle of traders taking profits before accumulating again.
Top crypto analyst Willy Woo tweeted on X.Likewise, Cathie Wood’s ARK Invest published a note stating that profit taking is common around technical breakouts and should not be viewed as a change in macro trend. The group argued that Bitcoin still has room to move up into 2025, with increasing demand from ETFs and sovereign funds.
Long-Term Outlook Still Bullish
While short-term profit taking has slowed the rally, long-term fundamentals are strong. Network hashrates continue to increase, institutional adoption continues to pick up, and ETF inflows (albeit negative now) have created a structural demand for BTC.Additionally, macroeconomic elements are also conducive to risk-on assets, including crypto. The decline in inflation in the U.S., along with steady interest rates, are important factors – if they remain flat, I suspect Bitcoin will take another leg up after profit taking subsides.
Crypto strategist Michaël van de Poppe stated,
“Healthy pullbacks after technical breakouts happen in every bullish cycle. The market just resets before the next leg up.”
Closing Thoughts
The wave of Bitcoin profit taking prompted by the recent golden cross (and the $500 million in hourly cashouts) has resulted in a brief interruption to Bitcoin’s bullish momentum. Retail investors may see this sell-off as concerning, but analysts have suggested that this is just a typical market correction and indeed a necessary pause for Bitcoin before the uptrend resumes.
Data from the blockchain still shows a lot of liquidity and healthy trading volume, which tells you the crypto market is sound ad not fundamentally broken. Long-term investors should pay attention to retests of support zones, while traders that are thinking more short term can scan for opportunities where volatility is available to them.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
My work centers on understanding how blockchain, AI, and digital identity are reshaping global industries. At Spearmint, I help lead the direction of initiatives that bring clarity, structure, and meaningful user experiences to complex technological environments. I focus on bridging vision with execution, ensuring that innovation remains practical, scalable, and aligned with long-term growth.
As an author at Coinography, I create insights that translate fast-moving Web3 developments into clear, useful narratives. I explore topics such as decentralized governance, digital identity, creator economies, token models, protocol design, and the shifting cultural patterns around emerging technology. My aim is to make digital transformation more understandable and approachable for a wider audience.
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