Bitcoin reached a historic peak of $123,000 before undergoing a short-term correction due to profit-taking by short-term investors.
On-chain data shows that whales and miners continue to hold, creating a solid foundation for the long-term bullish trend to continue developing in the cryptocurrency market.
MAIN CONTENT
Bitcoin slightly decreased after hitting $123,000 due to short-term profit-taking pressure.
Whales and miners continue to hold coins, showing confidence in the mid-term bullish trend.
Technical and on-chain analysis indicates that Bitcoin's upward wave has not yet ended.
How does profit-taking pressure occur when Bitcoin reaches $123,000?
According to on-chain data from CryptoQuant, the influx of Bitcoin into centralized exchanges spiked when the price hit $123,000, signaling a sell-off by short-term investors and some whales. This is a typical phenomenon after reaching a record high price and often leads to short-term corrections.
The inflow to exchanges exceeded 3,000 BTC, assessed as the strongest selling since April 2025. However, long-term holders show no signs of significant selling, indicating that the profit-taking phenomenon is only temporary and has not shaken the greater bullish trend.
Bitcoin breaking through the $120,000 threshold is an extremely positive signal, breaking a 7-year resistance line, which has received consensus from many market experts.
Nic Puckrin, Founder of Coin Bureau, July 2025
Why do Bitcoin miners maintain their confidence during price corrections?
Analysis of miner activity based on CryptoQuant data shows that the amount of Bitcoin transferred from miners to exchanges is decreasing, reflecting a restraint in selling. The Miners Position Index is currently in a neutral to negative zone, indicating that miners are not under financial pressure to sell.
Historical experience shows that miners often choose the right time to sell, and the current caution is a signal that they believe Bitcoin still has room to continue rising in a bull market.
Is Bitcoin in a temporary correction phase or reversing its trend?
Bitcoin's price dropped from its peak of $123,000 to around $116,800, along with the daily RSI index falling from the overbought zone to 64.8, indicating a slowdown in the upward momentum. The MACD remains positive but shows signs of flattening, signaling weakened buying power without new capital inflow.
The large red candle on July 15, 2025, confirms the increased selling pressure after the peak. However, the long-term trend remains solid, and there may be a retest of support levels before prices continue to rise.
Unlike previous peaks, the backup liquidity ratio is not spiking, meaning the risk of mass liquidation is lower.
Notably, this surge is being led by institutional capital, while retail investors have yet to participate strongly, and typical signs of FOMO are absent.
Nic Puckrin, Founder of Coin Bureau, July 2025
Comparing reactions among Bitcoin investor groups at peak
Investor Group Reactions When BTC Hits $123,000 Meaning Short-term investors & whales Accelerate selling, transferring coins to exchanges to take profits Leading to short-term price corrections, reducing overheating pressure Miners Reduce coin transfers to exchanges, maintain coin holdings Protect capital, showing confidence in long-term bullish trends Institutional investors Lead the buying trend, not in a hurry to sell Stabilize and reinforce the bullish trend, limiting negative volatility
Frequently Asked Questions
Will Bitcoin experience a larger correction after the peak of $123,000? Coin Bureau experts predict a short-term correction due to profit-taking pressure, but the bullish trend has not been negated. How do Bitcoin miners affect prices when prices rise sharply? Data shows that miners hold coins instead of selling off, reflecting confidence that prices will rise higher. What does a spike in Bitcoin inflow to exchanges mean? It is usually a sign that short-term investors are selling off to take profits, which can lead to temporary price corrections. What is the role of institutional investors in this price surge? Institutional investors play a dominant role, maintaining the influx of buying capital and minimizing excessive volatility. How do technical indicators like RSI and MACD affect the Bitcoin trend? The declining RSI indicates weak buying momentum, while a flat MACD shows that the push is slowing down; further signals need to be observed.
Source: https://tintucbitcoin.com/bitcoin-giam-vi-sao-phe-bo-giu/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
