Bitcoin USD Breaks $121K, Triggers 5th Biggest Profit-Taking Wave

Bitcoin USD has flipped bullish after a recent surge during the week, during which its price reclaimed key levels. The cryptocurrency has been making new highs over the week, with the recent surge being the most notable.

Before the move unfolded, institutions had onboarded with their BTC buys, potentially contributing to the market resurgence. However, the move’s ripple effect has produced the fifth-largest profit-taking. That said, will the Bitcoin USD price continue rising?

Bitcoin USD Breaks Above $121K

The 10% gains over the week took the price of BTC just above $121,000, despite an instant rejection. Bitcoin USD price reached a new weekly high. This happened two weeks after the Federal Reserve lowered interest rates.

This was an indication of successful pricing in the post-FOMC capital inflow. The daily gains for Bitcoin were in excess of 3% at the time of writing, as volume followed. The daily trading spiked by about 10%, which explained the price appreciation from a technical perspective.

Market signals point to a shift in structure. BTC price could reach $135,000 before pushing toward the $150,000 mark.

Analysts and institutional leaders, such as Tom Lee, have predicted comparable price targets for BTC. This is in addition to a seasonal tendency for the market to rally in the last quarter of the year.

Bitcoin USD price action had ranged around the $110K zone for more than three weeks, with brief dips below it. However, the dips were countered by buys, which took the price back up again.

The accumulation of around $110,000 was a classic institutional move. They tend to manipulate prices around psychological levels to position their capital. But what on-chain data suggested this could be the case?

How Did Institutions Catch the Move?

On-chain data from CryptoQuant analyst Julio Moreno highlighted key market activity. The actions of major players influenced price movement. As a result, the Bitcoin USD price appreciated.

Data from mining companies and large BTC firms was not included. Despite that, publicly traded treasuries performed strongly. They ultimately came out on top.

The data showed that publicly traded treasuries experienced significant accumulation in September. Strategy (MSTR) bought 7.6K BTC.

At the same time, Metaplanet (MTPLF) and Strive acquired (ASST) scooped 6.6K and 5.9K BTC tokens. This meant the institutions caught the rally past $120K in the last month.

Other treasuries also bought between 500 and 1,100 BTC during the same period. Similarly, other large operating businesses continued to accumulate Bitcoin as they anticipated a bullish quarter ahead. However, the massive profit-taking has put the move at risk. Will price sustain a rally?

The Ripple Effects of The Rally

The rally has seen a surge in traders locking in their gains. Data from CryptoQuant on X (formerly Twitter) indicated this was the fifth-largest profit-taking event in 2025. More than $3.7 Billion in realized profits was secured.

The wave, which has set a record in the books for 2025, could derail price appreciation. Thus, traders needed to be wary of this fact, especially those looking to dollar-cost average their positions. This was an indication of an impending correction or slight pause after this week’s rally.

Watching pauses and corrections in the Bitcoin USD price can help identify better entry points. Traders are expecting a bullish finish to the year. Still, the volatility of crypto assets posed a risk.