More than 90% of BTC holders are making a profit because the asset has surpassed the $65,000 mark. However, this could pose a risk to the largest cryptocurrency.

Reaching such high levels of investor profits may lead to potential price corrections. This is because many tend to sell their assets under such conditions when they are in the green.

For example, this happened in July, when holders' profits reached the same levels of over 90%. In the following months, the price of BTC plummeted as many decided to lock in their profits. Currently, large investors, known as whales, have sold BTC worth $1.28 billion in just 24 hours.

BTC has risen above $65,000, but meme coins are coming into the spotlight

Today, the entire cryptocurrency market has turned green: BTC is trading at multi-month highs, and many higher-cap altcoins are showing impressive growth.

However, the most remarkable activity is in the world of meme coins, where the top three have surged by triple digits.

SHIB jumped 22% on a daily scale and is now trading at $0.000019 — the highest price since mid-July.

Dogecoin also grew by double digits since yesterday. The OG meme coin spiked 11% and is now trading above $0.12.

Moreover, there are signs that DOGE may continue its rise to $0.15 if it decisively breaks through the $0.111 resistance, which seems likely.

The profits from meme coins don’t stop there. PEPE rose by 14%, WIF by 10%, FLOKI by 13.5%, and BONK leads among the top 100 altcoins, gaining 19% in value daily.

The total value of liquidated positions amounts to $150 million, with BTC and ETH accounting for $41 million and $20 million, respectively.