Bitcoin is currently trading between $100,000 and $110,000 as long-term holders cash in on profits. Analysts suggest that this redistribution of older coins is typical during bull markets, with significant sell-offs from holders of coins aged 3-5 years realizing $849 million, and those aged 7-10 years cashing out $485 million. Daily realized profits reached $2.46 billion, surpassing the year-to-date average. Despite the selling pressure, analyst Yonsei Dent notes that Bitcoin's price stability indicates strong market demand. Increased activity from coins held for 1-3 years suggests a shift in market leadership from older to newer holders, which may signal strength. Historically, July has been a strong month for Bitcoin, with an average return of 7.56% since 2013. Analysts predict that Bitcoin could reach new highs above $112,000 this month, potentially leading to significant volatility. If past patterns hold, a breakout could push prices toward the $140,000-$150,000 range before another cooling phase. Read more AI-generated news on: https://app.chaingpt.org/news

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