Bitcoin selling profits, but $ 140,000 in July is possible

The main dishes to remember:

• Bitcoin is stuck between $ 100,000 and $ 110,000 while long -term midfielders lock the profits.

• Despite the movement of older documents, an analyst considers this redistribution as typical on the bull markets and estimates that the market absorbs the sale pressure.

Glassnode data suggest that Bitcoin (BTC) The negotiation price linked to the range between $ 100,000 and $ 110,000 is the result of taking advantage. The data show Long -term holders (LTH) leading the sale, with parts aged 3 to 5, making $ 849 million, while coins in the 7 to 10 -year cohort have conceded $ 485 million. The cohort of 1 to 2 years has made $ 445 million.

Profits made daily hit $ 2.46 billion, the average of 7 days of $ 1.52 billion, exceeding the average of the year at the start of the $ 1.14 billion, but below peaks of $ 4 to 5 billion observed in the fourth quarter 2024.

Despite the sale of LTHs, the cryptocurrency analyst Yonsei Dent said There is a silver lining because the data suggest that this activity could be positive.

The spent exit bands show up when the variable coins have passed, while the days of destroyed binary currency simplify the data by signaling whether the LTHs have moved the coins one day given. Dent explained that the coherent appearance of the movement of older parts is a positive signal in a bull cycle.

Dent said that despite the sale pressure, the BTC price has remained stable, which means that the market absorbs it due to regular demand.

Dent also noted more activity of the parts held for 1 to 3 years, reflecting the profit of previous cycle buyers. “If anything, it suggests a transition from leadership of the older holder market to the most recent,” said the analyst, suggesting the strength of change signals, not weakness.

Related: less than 15% bitcoin left on crypto exchanges, “supply problem” of signals “

Historical chances promote a Bitcoin rally in July

Cointelegraph reported This bitcoin could be ready to follow the S&P 500 trend in the S&P 500 positive performance in July. The SPX recorded its highest monthly fence in June, and historically, July was the strongest month of Bitcoin.

Since 2013, BTC has reached an average yield of 7.56% in July, with eight gains in twelve periods, including an increase of 24.03% in 2020. The third quarter often sees robust risk yields, and the correlation of Bitcoin with the S&P 500 suggests that new summits of all time above $ 112,000 could occur this month.

In fact, once Bitcoin has new heights, cryptographic assets could have significant volatility, as Cryptocon suggests. The technical analyst highlighted A movement laterally of 195 days since December 18, 2024, with only 36 days of noticeable price action. The analysis indicates a long phase “cycle 4 expansion ranges”. This slow cycle aligns with the historic patterns of short price shortages masking a wider rise trend.

Since 2023, each escape from Bitcoin Major has taken place on a window of 30 to 40 days, generally followed by a period of lateral consolidation. If history is repeated, the next escape could lead to a rapid increase to the range of $ 140,000 to $ 150,000 before entering another cooling phase.

Related: Bitcoin due to copy S&P 500 to reach a new record of all time in July: forecasts

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.