Bitcoin extends decline as profit-taking weighs on prices

Bitcoin (BTC) is trading below $84,000 at the time of writing on Thursday, extending its decline for a third consecutive day as profit-taking weighs on prices. Despite the correction, strong institutional demand and continued accumulation by holders of between 100 and 1,000 Bitcoin could provide support for the world’s largest cryptocurrency.

Profit-taking adds downside pressure to Bitcoin

Bitcoin surged 6.7% at the start of the week on Monday, reaching a high of $87,395, its highest level since late January, before profit-taking began to emerge.

As noted in the previous report, Bitcoin’s Network Realized Profit/Loss (NPL) metric jumped sharply on Monday to its highest level since December 12, 2025. The spike indicates that Bitcoin holders are, on average, selling their assets at substantial profits, adding to selling pressure.

Since then, elevated profit-taking has weighed on Bitcoin, pushing the cryptocurrency below $84,000 and resulting in three consecutive days of losses through Thursday.

Institutional demand remains strong

Despite the profit-taking, institutional demand has remained strong so far this week.

Data from SoSoValue showed that US spot Bitcoin exchange-traded funds recorded $346.98 million in inflows on Wednesday, marking a fifth consecutive day of inflows since last week and highlighting strong investor demand.