🟧 Attention, whales have awakened!
July ended with alarming signals for BTC holders. In the last days of the month, profit taking intensified, and this may not just be a 'healthy correction', but the beginning of a more significant reversal.
On-chain analytics and the behavior of large players signal: a wave of sales is brewing in the market. Let's consider 4 key bearish triggers that could reverse the Bitcoin trend as early as August.
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🐋 1. Awakening whales start dumping BTC
In early July, an event occurred that hadn't happened in over 14 years:
📤 A wallet with 80,000 BTC (over $9.5 billion) has 'awoken' and started active movements. Transactions were conducted through Galaxy Digital, which sharply slowed Bitcoin's growth in the last days of the month.
📉 According to CryptoQuant, outflows from Galaxy Digital often coincide with market corrections.
And on July 29, LookonChain analysts recorded:
🔻 Galaxy Digital released another 3,782 BTC worth $447 million. Most of it was sent to exchanges — which means into the market.
‼️ But that's not all:
🔓 Two dormant wallets, silent for 6 to 14 years, began actively moving BTC.
📦 Only one cluster of addresses (possibly one owner) moved 10,606 BTC (~$1.26 billion) after years of inactivity.
👉 This is not just a movement of funds — it is pressure on the market. And it is growing.
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🕰 2. Long-term holders (LTH) began selling at $120,000
🎯 The $120K level has become a psychological barrier:
📊 CryptoQuant reports that long-term investors began withdrawing funds as soon as the price broke $120K.
These players are the core of the market, holders with nerves of steel. But even they have started to take profits.
🧠 Analyst Burakkesmeci emphasizes:
> 'LTH sales at the $120K level may indicate the end of the growth phase.'
🕳 Such activity was already seen in early 2025 — and it contributed to BTC falling below $75K. If LTH continue to sell — pressure will increase, especially against the backdrop of whale and miner activity.
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⛏ 3. Miners are dumping BTC again
🪫 Another alarming signal: the miners' reserve is dwindling.
After a period of calm, BTC outflows from mining pool wallets resumed in July. This means one thing — sales.
💡 Why do miners sell?
Coverage of expenses
Profit taking
Fear of price drop
🗣 CryptoQuant warns:
> 'If miners start a mass sell-off at once, it could crash the market.'
Considering that miners traditionally sell ahead of downturns — this signal cannot be ignored.
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🇺🇸 4. Pressure from American investors
📉 The Coinbase Premium indicator has turned negative. This means that BTC on Coinbase is cheaper than on Binance — a sign of weakening demand in the USA.
👤 Analyst IT Tech writes:
> 'Negative premium signals sell-offs in the American market. This is dangerous.'
Why is this important?
🇺🇸 The USA is a key source of institutional demand
Coinbase is the main gateway for legal capital
Negative premium = more offers than purchases
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⚠️ Bonus: the MVRV metric is approaching the 'overheating zone'
🧮 The MVRV ratio (market value to realized value) shows how much the BTC price is above the average purchase price.
It is now rising to a level where the market showed a double top and reversed in 2021.
🔭 Analyst Yonsei warns:
> 'Historically, when MVRV approaches a peak, a correction begins. August could be a turning point.'
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📌 Conclusion: what comes next?
⚖️ On one side:
On-chain metrics scream caution
Whales, LTH, miners, and American investors — all are showing bearish activity
⚔️ On the other hand:
The Kaiko report shows that the market still has deep liquidity
Companies continue to build positions
Experienced traders are ready to buy the dips
August will be hot.
This is not just volatility — it might be a decisive month in the cycle.
📉 Will there be a crash or a deep breather?
🔔 Set notifications. Tighten risk management. Keep an eye on the whales.
And most importantly — don't be the last to know about the trend change.
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