Bitcoin Holders Realize 14,600 BTC in Daily Profits on May 4, Highest Since December

According to CryptoQuant, Bitcoin holders realized 14,600 BTC in daily profits on May 4, the highest level since December 10, 2025. The move comes as Bitcoin has risen over 20% since the start of April to a three-month high, though CryptoQuant’s head of research, Julio Moreno, characterizes the rally as a “bear market rally” rather than a structural bull market transition. The Short-Term Holder Spent Output Profit Ratio (STH-SOPR) rose to 1.016 and has remained above 1.00 since mid-April, indicating broad profit-taking activity. On a 30-day rolling basis, Bitcoin holders are realizing +20,000 BTC in net profits, the first positive reading since December 22, 2025, following heavy net losses in February and March.