$11B in Realized Gains From Short-Term Holders Halts Bitcoin’s Push Past $110K

Bitcoin Cools Near Record Highs as Short-Term Sellers Take the Wheel

Bitcoin retreated slightly on Monday, dipping to $109,000 after briefly showing strength over the weekend. With U.S. financial markets shuttered for Memorial Day, price action remained subdued.

Still, BTC has climbed 1.7% in the past 24 hours and remains within striking distance of its all-time high set just days ago.

Tariff Delay Spurs Altcoin Bounce

The crypto market caught a tailwind from Europe, where stocks rallied following Donald Trump’s decision to postpone sweeping 50% tariffs on EU imports. That shift—announced just two days after a surprise escalation—helped steady risk sentiment.

Uniswap (UNI) led the altcoin charge, jumping 6.6%. Chainlink (LINK) and Avalanche (AVAX) followed with gains above 3%, outperforming broader markets on a relatively quiet day.

Short-Term Holders Lock in Profits

While bullish momentum has stalled, analysts at Bitfinex see increased short-term selling pressure as a key factor. These investors have realized over $11.4 billion in profits over the past 30 days, a sharp rise from the $1.2 billion recorded in the previous month.

“The pace of profit-taking could start to exceed new demand unless capital inflows increase,” the analysts warned. “We’re likely entering a period of consolidation.”

BTC’s recent dip to $106,000 may represent the local low, but if the pullback deepens, traders will be watching $95,000—the average cost basis for short-term holders—as a key support level.

ETFs Absorb Supply, But for How Long?

Meanwhile, U.S.-listed spot bitcoin ETFs have brought in $5.3 billion in May alone. That inflow has helped absorb some of the selling and lent price stability.

Low volatility and steady institutional demand suggest the bull trend remains intact—though a pause or pullback may be needed before the next leg higher.