What's up, my lovely people! 👋 Ready to hear the hot gossip about Bitcoin? The truth is that this crypto asset, which was supposed to be rising like foam, seems to be stuck in the mud! 🐢

Imagine the situation: Bitcoin has been going around for ¡42 days in a row! between $100,000 and $110,000. 🤯 Yes, even though the ETFs (those funds that are like giant shopping carts) are pouring green cash left and right and institutions are buying like crazy, the price isn't moving backward or forward! It's as if it has a handbrake on. 🚧

According to the gossipers at Glassnode, who are experts at analyzing the movements of these coins, the thing is that a lot of people, both those who have had Bitcoin for a short time (less than a year) and those who are OGs (the veterans who have had it for years), are selling their profits! 🤑 Last week, those who have had Bitcoin for more than a year pocketed $1.2 billion. Crazy! And those who have had it for between six months and a year sold $904 million just on Monday! That's like the second largest 'cash out' for that group all year. 💰

Markus Thielen, who is a guru at 10x Research, says this is like a tug of war. Those who buy and those who sell are in a dance, and that makes the price stay still. But he believes this is only temporary, that at some point it will explode upwards! 🚀

On the other hand, the folks at CryptoQuant tell us that the ETFs bought a bunch of Bitcoin in June (128,000 BTC!). It's the largest purchase since the beginning of the year. But at the same time, the whales (those investors with big bucks) are also moving their Bitcoin to exchanges like Binance. Overnight, Binance went from having $2.3 billion to $4.59 billion in Bitcoin. Imagine that! 🐳

But don't be scared, this doesn't mean that whales are selling to go party. Some analysts say that what they're doing is like rearranging their chips to be able to arbitrage between ETF prices and the direct market. It's like when you move money from your pocket to your wallet to have it more handy. 🔄

And the miners, who are the ones that 'fabricate' Bitcoin, are also selling their share. They have dropped about 30,000 BTC from their wallets in just 20 days! This makes their influence on the price the lowest since 2022. ⛏️

At the end of the day, this is like a debate among old folks. There are people who see Bitcoin as a long-term investment, to save money. And others who see it as a little toy to speculate and make money quickly. Alexander Blume from Two Prime says it's normal for us to be at this equilibrium point, with some selling the risk and others buying on the dips.

So, be alert! Bitcoin is at a crossroads, and although experts say it's only a matter of time before it takes off, we need to keep our eyes wide open. 👀$BTC $OG