Key Takeaways:
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Bitcoin stuck between $ 100,000- $ 110,000 while mid-to-long-term locked in revenue.
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Despite the movement of old coins, an analyst sees this redistribution as typical in bull markets and believes that the market is absorbing pressure sale.
Data from glassnode suggests that bitcoin (Btc) The price bound by the trade between $ 100,000 and $ 110,000 is the result of income extraction. Data displays The middle of the long-term holder (LTHS) leading the sale, with coins aged 3-5 years realizing $ 849 million, while coins in 7-10 years of cohort release $ 485 million. 1-2 years Cohort realized $ 445 million.
Sun -Sun realized that income Tumami $ 2.46 billion, with a 7-day average rising to $ 1.52 billion, which is over average $ 1.14 billion but below $ 4-5 billion peaks seen in Q4 2024.
Despite the sale of Lths, cryptoquant analyst Yonsei Dent Says There is a silver lining because data suggests that this activity can be positive on the net.
The spent bands of age of ages of highlights when coins of different handling periods are spent, while binary days are destroyed by simplifying the data by dumping if the LTHS switched coins on a given day. Dent explained that the same appearance of older coin movement is a positive signal to a bull cycle.
Dent said that despite the sale of pressure, the price of BTC remained stable, meaning the market was absorbing it because of stable demand.
Dent also noted many activities from coins held for 1-3 years, reflecting the acquisition of income from previous cycle buyers. “If anything, it suggests a transfer of market leadership from elderly holders to later,” said the analyst, suggesting the strength of the shift signal, not weakness.
Related: Less than 15% Bitcoin left in Crypto Exchanges Signals ‘Supply Problem’
The odds of history favored a Bitcoin rally in July
Cointelegraph reported That Bitcoin can be set to follow the S&P 500 decade of July’s positive performance. The SPX recorded the highest monthly near June, and in history, July became the strongest month of Bitcoin.
Since 2013, the BTC has been averaging a 7.56% return in July, with eight gains in twelve periods, with a 24.03% advancement in 2020. Q3 often sees a steady return of risk, and the relationship of Bitcoin with S&P 500 suggests that new hours of high hours more than $ 112,000 can happen early.
In fact, once Bitcoin has achieved new highs, the crypto asset may show significant volatility, as Cryptocon suggests. The technical analyst Highlighting A 195-day movement of sideways since December 18, 2024, with only 36 days of well-known price action. The analysis points to a long “cycle 4 range of expansion”. This slow cycle aligns with historical short prices of breakout masking a greater climbing.
Since 2023, every major Bitcoin breakout has opened a 30 to 40-day window, usually followed by a combination period. If the history is repeated, the next breakout can drive a quick climb towards the $ 140,000- $ 150,000 range before entering another phase of cooling.
Related: Bitcoin Due to Copy S&P 500 to hit the new time high in July: Forecasting
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
