Bitcoin Holds $1.2 Trillion in Unrealized Gains — But No Sell Signal Yet
With over $1.2 trillion in unrealized profits, bitcoin continues to intrigue the markets. Investors prefer to hold their positions despite a surge in gains of +125%. What lies behind this inertia?
In brief
- Despite $1.2 trillion in unrealized profits, bitcoin holders refuse to sell.
- Long-term holders curb the rise by liquidating since the arrival of BTC ETFs.
Bitcoin crosses the billions without triggering profit-taking
The threshold of $1.2 trillion in unrealized profits now fuels all speculation. According to Glassnode, the majority of BTC holders refuse to sell even after a significant price increase towards $106,000. This situation creates strong latent pressure, without triggering massive sales.
The on-chain analysis platform specifies that the market finds solid support around $98,300. This represents the average purchase cost of short-term holders. They also show a clear drop in selling activity since the peaks reached in May.
The technical environment confirms this blockage. Admittedly, June ended with a historic monthly close above $107,000. Having said that, the bitcoin price remains below its record of May 22 at $111,970. This paradox further fuels a tense climate where the price rises, but the available supply does not keep pace.
Long-term holders slow bitcoin’s surge
The behavior of long-term investors weighs on the current dynamics. According to some crypto analysts, these actors have begun liquidating their positions since the launch of Bitcoin ETFs. They are dumping their tokens on Wall Street, which explains why BTC struggles to sustainably surpass the $100,000 mark.
That’s not all! This movement is accompanied by massive HODLing by newer investors, who prefer to keep their tokens despite the rise.
On-chain data confirms this preference: sales remain low even in historically attractive price zones. The bullish market therefore seems suspended, awaiting a recovery in demand or exhaustion of historical sellers.
The psychological threshold of $100,000 thus becomes a front line where forces balance. Analysts expect a new catalyst to unlock the situation.
One thing is certain: as long as signals remain ambiguous, bitcoin continues to dance on a tightrope between accumulation and exhaustion. The next move could therefore redefine the entire crypto landscape!
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My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.