Axel Adler Jr: Bitcoin has achieved a 19% decrease in profits, with weaker profit taking than in August

CryptoQuant analyst Axel Adler Jr stated that although Bitcoin prices have risen to around $87000, market profit taking is weaker than in August. During the high point of the second round of gains, the market achieved a 19% decrease in profits compared to the high point of the first round of gains, and achieved a decrease in losses. On August 26th, when the BTC price was around 78600 US dollars, the profit achieved in the past 7 days was 9.1 billion US dollars; On September 24th, when the BTC price rose to $84100, the profit achieved in the past 7 days decreased to $7.3 billion. As of September 28th, Bitcoin's net realized profit for the past 7 days was $4.3 billion. The profit margin for short-term holders is narrowing, with the STH SOPR indicator dropping from 2.8% on August 26 to 1% on September 28. During the BTC retracement to $76500 on September 17th, the lowest STH SOPR dropped to 1.003. If BTC returns to $87200, holders' unrealized profits will increase.