Munzir Hakimi0
Table of Contents
Fresh Insights Ahead
Bitcoin has recently experienced a significant profit-taking event, marking the third major distribution phase of its current bull run. According to CryptoQuant, this wave was primarily driven by newly emerged Bitcoin whales who began selling once prices surpassed $120,000.
Profit-Taking Dynamics
- Market Movements: The surge in selling coincided with realized profits on Bitcoin reaching between $6 billion and $8 billion in late July. This pattern mirrors previous peaks observed in March and December 2024.
- New Whales: these “new whales,” entities that hold at least 1,000 BTC, are believed to include institutional investors or corporations that have recently entered the market.
- Historical Context: Previous profit-taking waves followed significant events like the launch of US spot Bitcoin ETFs and political developments. Each was succeeded by a cooling phase in both Bitcoin and broader crypto markets.
Resurgence of Old Whales
While new whales have been active sellers, older entities are also making moves. A long-dormant whale from the Satoshi Nakamoto era recently sold 80,000 BTC for approximately $9.7 billion through multiple transactions via major exchanges.
- Market Resilience: Despite a temporary dip following this sale, Bitcoin’s price quickly rebounded, indicating strong market demand even amid large-scale liquidations.
- Comparative Performance: In 2025 alone, Bitcoin has outperformed many customary assets like the S&P 500 index which is down substantially when measured against BTC values over time.
Final Thoughts
The recent activities among both new and old whales highlight ongoing volatility within the cryptocurrency market while showcasing its resilience amidst profit-taking phases.
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