The price of Bitcoin has surpassed the historical mark of $117,000, resulting in over 95% of the coins in circulation becoming profitable for their holders. According to Glassnode, such a figure typically indicates the onset of an euphoria phase in the cryptocurrency market.
This is reported by Business • Media
Signs of Market Euphoria and Increased Risks
Analysts note that during such periods, traders often take profits en masse, which can trigger increased volatility and heightened risks for market participants.
“Such values usually indicate a phase of euphoria in the market.”
Activity of Major Players and Market Movements
CryptoQuant expert under the pseudonym Maartunn reported that 32,322 BTC, equivalent to approximately $3.93 billion, was withdrawn from wallets that had remained inactive for three to five years. This marks the largest movement of this type in 2025, which analysts believe could impact the future price dynamics of Bitcoin.
Additionally, on October 7, 2025, a so-called “whale” with a Bitcoin stash worth over $10 billion transferred 3,000 BTC to the Hyperunit platform. This transaction sparked lively discussions in the crypto community, as some market participants interpreted it as a potential beginning of a new accumulation phase for Ethereum.
As noted by QCP Capital, Bitcoin is strengthening its position as a safe-haven asset amid the U.S. government shutdown. Currently, the cryptocurrency is trading near the $123,000 mark, confirming its growing popularity among investors as a capital preservation tool.
BTC/USDT chart on Binance. Data: TradingView.