Goldman Sachs Reports Reveals Bitcoin Experiences Intense Profit-Taking Activity in May

Goldman Sachs released a report highlighting the positive trends in the adoption of bitcoin and Ethereum. Although the number of large Bitcoin addresses decreased, the spent output profit ratio spiked, indicating significant profit-taking. Furthermore, Bitcoin held on exchanges dropped by 12%, while Ether supply increased slightly. Network congestion affected both blockchains, leading to decreased address activity. However, Bitcoin_s average mean hash rate reached a new high, resulting in a 5.4% gain and a remarkable 16.4% increase in miner revenues. These advancements demonstrate the continued growth and resilience of both cryptocurrencies.