Key points:
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Bitcoin is trapped between $100,000-$110,000 as medium- and long-term holders lock in profits.
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Despite the flow of older coins, one analyst believes that this redistribution is typical of a bull market and believes that the market is absorbing sales pressure.
Data from GlassNode indicates Bitcoin (BTC) The transaction price of a limit range between $100,000 and $110,000 is the result of profit. Data display Long-to-Long-Term Holder (LTHS) led the sell-off, with coins aged 3-5 years and $849 million, while in 7-10 years of similar products, coins cashed in $485 million. The 1-2-year cohort achieved $445 million.
Realize profits every day beat $2.46 billion, with an average of $1.52 billion in seven days, surpassing the $1.14 billion average, but below the $4-500 million peak in the fourth quarter of 2024.
Crypto analyst Yonsei Dent despite Lths for sale explain As the data suggests that this activity may be net frontal, there is a silver lining.
When coins spent with different holding cycles, the output age group metrics spent are highlighted, while the binary coin day simplifies data by marking whether LTHS moves coins on a given day. Dent explained that the consistent appearance of the movement of the old coin is a positive signal in the bull cycle.
Despite sales pressure, BTC prices remain stable, meaning that the market is absorbing the market due to stable demand, Dent said.
Dent also noted that holding 1-3 years of coin activity more activities reflects the profits of previous cycle buyers. “If anything, it shows the transition from older holders to new holders,” analysts said, suggesting the power of shifts rather than weakness.
Related: Less than 15% of Bitcoin left on crypto-switched signals “supply issues”
Historically favored Bitcoin rally in July
COINTELEGRAPH Report The Bitcoin can follow the July performance trend of the S&P 500 S&P 500. SPX recorded its monthly highest closing in June, and historically, July was the strongest month for Bitcoin.
BTC has averaged 7.56% in July since 2013, with eight gains over the twelve periods, including a 24.03% increase in 2020. Q3 will often see strong risk asset returns, and Bitcoin’s correlation with the S&P 500 suggests that new all-time highs could hit earlier this month.
In fact, once Bitcoin reaches a new high, crypto assets may show significant volatility, as Cryptocon suggests. Technical analyst Highlight Since December 18, 2024, 195 days of lateral movement have only 36 days of price action. Analysis points to a longer “period 4 range expansion” phase. This slow cycle is consistent with the historic pattern of brief price breakthroughs, thus obscuring the wider uptrend.
Since 2023, every major Bitcoin breakthrough has unfolded in a 30-40-day window, usually a period of lateral integration. If history repeats itself, the next breakout could quickly emerge from the $140,000-$150,000 range before entering another cooling phase.
Related: Bitcoin will hit new all-time highs in July thanks to replica 500: Forecast
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
