Santiment reported that bitcoin investors realized about $1.03 billion in profit on Oct. 7, 2026, as the cryptocurrency underwent a price correction. CryptoQuant separately said the 7.61% decline from Oct. 5 to Oct. 9 was close to the previous bull cycle’s average drawdown but remained below the five-cycle historical average.

The analytics platforms focused on bitcoin holders’ behavior during the correction. Santiment recorded a sharp increase in realized profit, while CryptoQuant compared the price decline with drawdowns during previous bull cycles.

Santiment Reports More Than $1 Billion in Realized Profit

According to Santiment, investors realized about $1.03 billion in profit from bitcoin transactions on Oct. 7. Santiment said this was the second-largest daily figure of 2026, slightly below the annual high of $1.04 billion.

The increase followed bitcoin’s recent rise above $87,000. Santiment based its assessment on the Network Realized Profit/Loss metric, which measures realized profit or loss when coins move on the blockchain.

Santiment said large positive readings indicate that many holders are taking profits at the same time. According to the platform, such activity can increase selling pressure and coincide with short- to medium-term market cooling.

The platform cautioned that a spike in realized profit does not by itself guarantee a trend reversal. Santiment said, however, that the reading suggests bitcoin’s recent rally is being tested.

CryptoQuant Compares Correction With Earlier Bull Cycles

CryptoQuant analysts examined bitcoin’s decline using the Bitcoin Bull Cycle Drawdowns indicator, which measures price drops from peaks formed within each cycle.

CryptoQuant listed average drawdowns of 18.41% in 2010–2011, 21.71% in 2011–2013, 10.93% in 2015–2017, 19.39% in 2018–2021 and 7.58% in 2022–2025. The overall average across the five cycles was 14.39%.

According to CryptoQuant, corrections in the latest cycle were relatively moderate compared with earlier periods. The platform said bitcoin fell about 7.61% from a high of $87,027 on Oct. 5 to a low of $80,404 on Oct. 9, broadly matching the previous cycle’s 7.58% average drawdown but remaining below the five-cycle average.

CryptoQuant said applying the historical average drawdown of 14.39% to the recent high of $87,027 would produce an estimated bitcoin price of about $74,500.

The platform said investors may consider gradually accumulating bitcoin near $80,000 and increasing purchases in the $74,000–$75,000 range if the price continues to fall. CryptoQuant presented those levels as analysts’ reference points rather than a guarantee of future price movement.

CryptoQuant previously cited weak spot demand as the reason for bitcoin’s correction.

Source: Incrypted