Profit-Taking Surge: Bitcoin Miners and Ethereum Whales Cash Out Amid Price Rallies

TL;DR#Bitcoin $BTC miners locked in over $18.57 million in profits as prices surged past $93,000! pic.twitter.com/ZgXosyJ5WU— Ali (@ali_charts) April 24, 2025Miners, the backbone of the largest proof-of-work blockchain network, are generally bullish. They tend to hold to their BTC during market rallies. However, they sometimes lock in profits during market uncertainty, especially if they have to cover some costs.Following the massive turbulence experienced in the past several weeks due to Trump’s Trade War, when BTC’s price tumbled to a multi-month low of under $75,000, miners decided to secure some profits after the cryptocurrency added nearly $20,000 since April 9.More specifically, they locked in around $18.6 million in profits as bitcoin jumped above $93,000 earlier this week, said Ali Martinez.The landscape around Ethereum is more dire. As previouslyreported, many long-term ETH investors, such as Galaxy Digital, had decided to dispose of large portions of their ether holdings.More recent data shared by the same analyst indicates that 305,000 ETH (valued at roughly $540 million at today’s prices) was moved to exchanges within just a week, which is typically a sign for future sales.Additionally, Martinez said Ethereum whales started selling again after the recenttrend reversal, offloading more than 63,000 ETH within just two days. In USD terms, this stash equals $110 million.Whales capitalized on the recent price surge, unloading over 63,000 #Ethereum $ETH in the past 48 hours! pic.twitter.com/Y4vf1SzDep— Ali (@ali_charts) April 24, 2025ETH’s price tumbled at the start of the month to $1,400, thuserasingroughly seven years of gains. It jumped past $1,800 earlier this week, which has allowed these investors to capitalize on the recent price surge.