Bitcoin’s Stability Amid Profit-Taking by Long-Term Holders
- Bitcoin is trading between $100,000 and $110,000 as mid-to-long-term holders take profits.
- Coins aged 3–5 years realized $849 million in profits, while the 7–10 years cohort cashed out $485 million.
- Daily realized profits reached $2.46 billion, with a seven-day average of $1.52 billion.
- Analyst Yonsei Dent suggests that the market is absorbing selling pressure due to steady demand.
- Bitcoin‘s historical performance indicates potential for new all-time highs above $112,000 this month.
Despite significant profit-taking by long-term holders, Bitcoin’s price remains stable, indicating strong market demand. Analyst Yonsei Dent views this as a positive signal within a bull cycle, suggesting a transition of leadership from older to newer holders.
The consistent movement of older coins and Bitcoin’s correlation with the S& ;P500 supports expectations for potential new highs above $112 ,000 in July . (Source)
