With more than $ 1,200 billion in unrealized profits, Bitcoin continues to intrigue the markets. Investors prefer to keep their positions, despite a surge in +125 %gains. What does this inertia hide?
In short
- Despite $ 1,200 billion in unrealized profits, Bitcoin holders refuse to sell.
- The long-term holders slow down the increase by liquidating since the arrival of the BTC ETF.
Bitcoin crosses the billions without triggering profit taking
The threshold of $ 1,200 billion in unrealized profits today feeds all speculation. According to Glassnode, the majority of BTC holders refuse to sell even after a marked increase in the price to $ 106,000. This situation creates strong latent pressure, without causing massive sales.
The Onchain analysis platform specifies that the market finds A solid support around $ 98,300. This represents the average purchase cost of the Holders Short-Term. The latter also show a clear fall in their selling activity since the peaks reached in May.
The technical environment confirms this blockage. Admittedly, the month of June ended with a historic monthly fence above $ 107,000. That being said, the Bitcoin course Stay below its May 22 record at $ 111,970. This paradox fueling a climate of tension in which the price is increasing, but the available offer does not follow.
The long-term holders brake the flight of Bitcoin
The behavior of long -term investors weighs on current dynamics. According to some Crypto analysts, these actors have started to liquidate their positions since the launch of Bitcoin ETF. They pour their tokens on Wall Street, which explains why The BTC is struggling to cross the $ 100,000 course in a sustainable way.
That's not all! This movement is accompanied by a massive hodling on the side of more recent investors, who prefer to keep their tokens despite the increase.
THE Onchain data Confirm this preference: sales remain low, even in historically attractive price areas. The Haussier market therefore seems to be suspended from a resumption of demand or a exhaustion of historic sellers.
THE Psychological threshold of $ 100,000 Thus becomes a front line where the forces are balanced. Analysts await a new catalyst to unlock the situation.
One thing is certain: as long as the signals remain ambiguous, bitcoin continues to dance on a tense wire between accumulation and breath. The next movement could therefore redefine the entire crypto landscape!
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