Bitcoin’s failure to keep more than $ 120,000 was accompanied by an increase in the sale of senior holders, which distinguishes what analysts call the “third wave to make profit in this bull run.”
Bitcoin profits (BTCIt increased to between 6 billion and 8 billion dollars in late July – coinciding levels in or near local summits in March and December 2024, according to Cryptoquant.
Cryptoquant indicated that this last sale was driven by “new whales”, which began to achieve gains as soon as BTC crossed a brand of $ 120,000.
In terms of encryption, whales are entities that carry at least 1000 BTC. Many of them accumulated early and know that they affect market movements. “New Whales”, in contrast Founding investors or companies.
Previous profit waves have followed our money in the United States, the boxes that were sweeping on the Bitcoin Stock Exchange and running to the inauguration of US President Donald Trump. Each two periods were followed by a extended cooling stage in Bitcoin and wider encryption markets.
However, this cooling phase escalated to a full sale in early 2025 Trump’s introductory agenda It shook investors and raised concerns about economic growth and inflation.
However, Bitcoin and the broader encryption market have been sharply recovered since early April, with BTC reaches the highest new level ever Above 123,000 dollars in July.
Related to: The price of Bitcoin Returgets is $ 119K, where the cabinet bought 28k BTC in two days
Old whales also appear
While the new Cryptoquant analysis highlighted the new whales as the main engines for investigating modern profits, which is a long accurate entity Accumulation of 80,000 BTC During the era of Satoshi Nakamoto, he recently achieved $ 9.7 billion of profits.
like Cointelegraph mentionedThe transaction was performed in multiple slices via Galaxy Digital, with sales directed through the main exchanges including Binance, BYBIT, Coinbase and Bitstamp.
Despite a 4 % decrease in Bitcoin after the sale, the market has quickly recovered, indicating a strong demand and absorption ability even in the face of the large -scale level.
Bitcoin’s performance this year out of most other assets, including the stock market. While the S&P 500 reached record levels last month, it decreased by 15 % from a year to date When measured by bitcoin terms. Since 2012, Benchmark has been 99.98 % less performance in Bitcoin, according to Bitbo data.
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