Old Bitcoin Holders Stop Take Profit After $1B July
On-chain analytics wey Glassnode do show say Bitcoin profit-taking don shift: veteran holders (3–5 years) dey realize over $1 billion every day for July but dem sharply reduce am for August. This one different from late-2023 profit-taking by 6–12-month holders, many of dem na early ETF buyers. CryptoQuant data still show say retail futures orders dey rise and institutional whale trades dey fall. Network growth tight, with more than 364,000 new addresses daily. Bitcoin dey trade near $120K, small increase as momentum dey cool: CryptoQuant Bull Score drop from 80 to 60, plus stablecoin inflows dey reduce. Traders suppose keep eye for realized profit trends, on-chain metrics and capital flows to find clue on support levels or new selling pressure.
Neutral
Wen veteran Bitcoin holders don pause dem profit-taking, wey fit provide price support, di cooling momentum—wey show for lower realized profits, drop for CryptoQuant Bull Score and reduce stablecoin inflows—dey signal say di market condition dey cautious. Strong network growth and retail futures activity fit balance di selling pressure, but low institutional trades and slow capital inflows dey limit di upside. Short-term traders fit see price action wey remain around range as HODLers dey hold near di all-time high, while long-term outlook depend on fresh inflows. Overall, mixed signals dey favor neutral stance as support and resistance factors balance itself.