Bitcoin price has remained above $100,000 for 42 consecutive days
For more than a month now, Bitcoin's price has consistently remained above $100,000, although it has not been able to surpass $112,000. Demand from spot ETF funds remains very active. However, on-chain data shows strong selling pressure from long-term investors and day traders, causing the market to be stuck in a narrow range between $100,000 and $110,000.
Profit-taking trends in the short-term cryptocurrency community
Statistics from the blockchain analysis platform Glassnode show that wallets holding Bitcoin for less than 1 year are leading in recent profit-taking. On Monday, this group successfully realized 83% of total profits, with addresses holding for 6 to 12 months selling BTC worth $904 million. This is the second-highest profit level for this group in 2025, reflecting a strong profit-taking sentiment.
Last week, we mentioned that BTC wallets holding >12 months were the main profit-taking group. However, this trend has changed. Yesterday:
🔹 🔹 Wallets holding for 6–12 months have realized profits of $904 million – the second-highest profit in a day for 2025 pic.twitter.com/gBD8tLCjVG
— glassnode (@glassnode) June 17, 2025
The profit value from long-term wallets has decreased
The analysis map also shows that the realized profits from wallets older than 10 years have decreased, with long-term addresses having either withdrawn completely or paused activity. Meanwhile, the activity of short-term investors over the periods of 1 week–1 month and 1 month–3 months remains high, helping to keep prices within periodic caps.
Profit-taking volume does not cause market volatility
According to Markus Thielen, founder of 10x Research, the struggle between buying and selling demand at high price levels is causing Bitcoin's price to be less volatile.
"Long-term investors continue to sell as ETFs drive demand, helping absorb the influx of capital and keeping prices stable," Thielen said in a client note on Thursday. "This reduces volatility, but a breakout is inevitable."
CryptoQuant's 30-day chart shows ETF inflows >= 128,000 BTC in June — marking the strongest accumulation period since the beginning of 2024, before weeks with smaller inflows of about 36,000 BTC.
Whale Bitcoin flows into Binance. Source: CryptoQuant
Whale activity and exchange cash flows
Although ETFs have accumulated a large supply, whale activities on centralized exchanges have still increased significantly. Data from Binance shows that BTC reserves have increased from $2.3 billion to $4.59 billion in just 24 hours, coinciding with the time ETFs were accumulating.
This indicates that individual investors or large institutions are not withdrawing from the market but are merely restructuring their assets to maintain liquidity.
Many experts believe that these cash flows do not reflect a pessimistic sentiment but may be related to arbitrage activities between ETF prices and the spot market or price spread strategies.
The impact of miners' activities on the market
In the past 20 days, the total amount of Bitcoin in miners' wallets has decreased by about 30,000 BTC, from 1.94 million to 1.91 million.
Analysts note that the percentage of Bitcoin in miners' wallets is currently at its lowest level since 2022, reducing the impact of miners' activities on price trends.
Investment trends and long-term expectations
Alexander Blume, managing partner of Two Prime, believes that Bitcoin investors are currently divided into two distinct groups: those anticipating speculative moves and those holding long-term.
"In the context of chaotic geopolitical conditions, short-term and leveraged investors tend to sell off to reduce risk, while long-term investors continue to actively buy the dip," Blume commented.
Accumulation patterns since Bitcoin peaked at $75,000 have significantly decreased, largely due to a strategy focused on capital optimization. Benjamin Lilly from Jarvis Labs believes this reflects a trend prioritizing capital-efficient strategies among investors.
Source: https://tintucbitcoin.com/ca-map-bitcoin-tren-100k-kim-ham-tang/
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