Bitcoin Drops Below $115K Amid Wave of Profit-Taking

Bitcoin (BTC) has fallen more than 7% dipping below $115,000, since hitting its all-time high of over $124,000, as traders booked in over $3.5 billion of realized profits across the weekend, according to Glassnode data.

Saturday alone saw $3.3 billion in profit taking, the largest single-day figure since mid-July and one of the highest in 2025.

For most of this year, profit has been realized almost daily, with only around 10 sessions showing net losses. The trend reflects BTC’s steady climb from $90,000 at the start of 2025.

Since hitting a low of $76,000 in April, profit taking has accelerated, especially as the $100,000 milestone triggered renewed selling pressure.

This latest downturn follows bitcoin’s all-time high of $124,000 earlier in August. Each correction this year from all-time highs, has been smaller than the last, suggesting more resilience as the market matures: January’s drawdown reached 30%, May’s was 12%, July’s 9%, and August’s pullback now sits at 8%.