VanEck Says Bitcoin Could Hit $1 Million as Traders Sit on Largest BTC Profits Since 2025

• VanEck’s Matthew Sigel said Bitcoin could reach $1 million within roughly five years
• Santiment data showed Bitcoin wallets fell by around 245,000 in five days as traders likely took profits
• CryptoQuant data showed BTC traders are sitting on their highest unrealized profits since June 2025, increasing the risk of short-term selling pressure

Bitcoin price prediction debates are picking up again after VanEck revealed its long-term bullish outlook for BTC. This comes as some on-chain indicators point to rising profit taking in the market. Bitcoin has recovered over the past month. But recent wallet and trading data suggests many short-term holders are beginning to reduce exposure after the rally.

Also Read: Anthropic Eyes $50B as JD Vance Quietly Calls Musk and Altman on US Banks

VanEck Stays Bullish Even as Bitcoin Wallets Drop and Traders Lock In Gains

Speaking on CNBC’s ETF Edge, VanEck Head of Digital Assets Research Matthew Sigel said Bitcoin could reach $1 million within about five years. Sigel noted the firm still views Bitcoin as a long-term growth asset. This is despite its volatility and pointed to continued institutional adoption and demographic trends supporting demand. He added,

“We think this asset’s going to reach a million dollars over the next several years.”

At press time, Bitcoin was trading at $79,890.41 following a 1.39% drop over the past 24 hours. The asset managed to rise to a high of $82,792.21 just last week.

He also compared Bitcoin adoption to the growth of the video game industry. He pointed out that younger investors continue entering the market and holding BTC over longer periods.

Sigel added that current derivatives positioning still appears relatively controlled compared with previous cycle peaks. According to him, Bitcoin’s recent move higher looks more like a short-covering rally than a heavily leveraged speculative run.

Also Read: Gas Was $2.98 Before Iran and Now at $4.56 & a Peace Deal Still Won’t Fix It

Bitcoin Wallets and Profit-Taking Data Show Mixed Picture

At the same time, recent on-chain data suggests some traders are already locking in gains. Data shared by Santiment showed the number of non-empty Bitcoin wallets declined by roughly 245,000 over the past five days. This marked the sharpest drop since mid-2024. The firm said the decline likely shows retail traders taking profits following Bitcoin’s recent recovery.

Santiment also noted that a similar decline in wallet activity during the June-July 2024 period was later followed by a broader Bitcoin rally as supply consolidated among longer-term holders.

In addition, another set of data from CryptoQuant showed BTC holders are currently sitting on their highest unrealized profits since June 2025. Historically, higher unrealized profit levels tend to increase the likelihood of short-term selling pressure as traders secure gains.

At present, there seems to be a lot happening in the Bitcoin market. While all signals point towards a bullish sentiment, the volatile nature of the king coin could keep things uncertain.

Also Read: Coinbase Stock Slides After $394M Loss, 31% Revenue Drop, and Two-Hour Outage