PANews reported on November 13 that Glassnode said in a recent market report: "Although there is a large degree of profit-taking, it is still below the historical high, which indicates that there is still room for further increases before reaching potential demand exhaustion."

Glassnode explained that since Bitcoin surpassed $73,679 on November 5, “realized profits” have averaged about $1.56 billion per day, almost half of the $3 billion during the previous all-time high in March. “Since entering the latest ATH discovery phase, we have observed $20.4 billion in realized profits,” the report added.