Bitcoin is reportedly in a historically late phase of its current market cycle, with profit-taking behaviors echoing previous cycle peaks, as noted by analytics platform Glassnode. Bitcoin's profit-taking metrics suggest that it may mirror the patterns observed during the cycles from 2015 to 2018 and 2018 to 2022. Despite some profit-taking occurring around the recent peak of $124,000, analysts predict that a new all-time high may be achievable in the coming months. Significant capital inflows have weakened, with profit-taking volumes falling lower than during previous price points, and yet, strong demand persists as new and short-term holders accumulate Bitcoin, offsetting sell pressure. Meanwhile, market sentiment has declined after Bitcoin dipped below $114,000, but large-scale holders, or 'whales', continue to accumulate Bitcoin, suggesting potential for future price increases. Moderate losses and reduced exchange balances point towards the possibility of a market correction without widespread capitulation among investors.

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