Bitcoin’s Uptrend Is Starting to Lose Momentum: Are There Signs of Fatigue?

CryptoQuant, a cryptocurrency analysis platform, stated that the bull trend in the Bitcoin (BTC) market continues, but the recent rise is starting to lose momentum, drawing attention to the possibility of a short-term correction.

According to CryptoQuant’s report, Bitcoin closing above its 365-day moving average last week provided significant technical confirmation that a new bull market has begun. The company’s Bitcoin Bull Score Index indicator also stands at 90 out of 100, pointing to an extremely strong bullish outlook.

However, after Bitcoin reached its highest level in eight months at $87,400, various on-chain indicators signaled a weakening of the bullish momentum.

According to CryptoQuant data, traders’ on-chain unrealized profit margin has risen to 33%, reaching its highest level since December 2024. Analysts note that the high amount of unrealized profit on positions held by investors could create selling pressure, and in the past, similar levels have resulted in increased profit-taking.

Indeed, profit-taking appears to have already begun. Bitcoin investors realized a total of 25,700 BTC in profits on September 22nd. This amount stands out as the highest profit-taking recorded in a single day in 2026. According to CryptoQuant, this data indicates that market participants have begun using the price increase to take profits.

The report also highlighted another notable indicator regarding the altcoin market. Activity related to sending altcoins to exchanges surged to a total of 76,000 transactions and 51,000 different investors over seven days. These figures represent the highest levels seen since October 17, 2025, just 11 days after Bitcoin reached its previous all-time high. CryptoQuant emphasized that strong increases in deposit activity to exchanges often indicate that investors are preparing to sell or distribute.

Bitcoin is also showing signs of weakening in demand indicators. While visible demand in the spot market has shrunk by 170,000 BTC in the last 30 days, speculative demand growth in futures has also slowed significantly. Demand in futures markets, which was at 164,000 BTC on September 14th, has fallen to only 16,000 BTC according to the latest data.

CryptoQuant also listed the support levels to watch for Bitcoin in the event of a potential correction. According to them, the first significant support is the 365-day moving average at approximately $80,000, while further down are the 200-day moving average at $71,000 and the on-chain price level traders are monitoring at around $67,000.

*This is not investment advice.

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