Profit-Taking Wave Hits Bitcoin, But Demand Keeps Prices Steady
After months of relative calm, long-silent Bitcoin wallets are stirring again, injecting billions of dollars’ worth of supply back into circulation.
Analysts say the renewed activity from these early investors lines up with a broader pattern of profit-taking that tends to surface when prices approach cycle highs.
Data from Glassnode confirms that whale addresses — those with 100 to 10,000 BTC — now control fewer coins than at any point since 2018.
The reduction has been gradual but persistent since late 2024, showing that big holders are trimming positions even as the market hovers near record territory.
Checkonchain estimates suggest that between January and July, long-term holders realized $3–4 billion in gains.
Such selling pressure has yet to knock Bitcoin off its perch entirely, but it does raise questions about how much higher the rally can go without fresh inflows from institutions and ETFs.
For now, Bitcoin remains steady at around $110,000, showing resilience despite the steady distribution.
The key question: will incoming demand be strong enough to absorb continued whale profit-taking, or will these moves set the stage for a deeper correction?
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
