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.”
The profits achieved on Bitcoin (BTC) increased to between $ 6 billion and 8 billion dollars in late July – the levels that coincided with or near the local summits in March and December 2024, according to Onchain Analytics 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. The “new whales”, in contrast to this, recently collected its wealth in BTC, which raised the possibility that it would include institutional 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 after Trump’s definition agenda shook investors and raised concerns about economic growth and inflation.
However, Bitcoin and the broader encryption market have flourished sharply since early April, as BTC has reached the highest new level ever over $ 123,000 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 Cryptoquant analysis highlighted the new whales as the main engines to achieve modern profits, a permanent entity has long achieved 80,000 BTC during the Satoshi Nakamoto era of profit 9.7 billion dollars.
As said CointeleGRAPH, the transaction was carried out in a multiple chip via Galaxy Digital, with sales directing through major 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. Although the S&P 500 has reached record levels last month, it decreased by 15 % of the year when measured by bitcoin terms. Since 2012, Benchmark has been 99.98 % less performance in Bitcoin, according to Bitbo data.
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2025-07-31 17:46:00
