The non-compliance with Bitcoin to have more than $ 120,000 was accompanied by an increase in the sale of major holders, marking what analysts call the “third major wave to the benefit of this bull race”.
The profits made on Bitcoin (BTC) increased between $ 6 and 8 billion at the end of July – levels that coincided at local or nearby summits in March and December 2024, according to the Cryptoant Ontchain Analytics firm.
This last sale was motivated by “new whales”, which began to make earnings once the BTC has crossed the $ 120,000 mark, noted cryptocurrency.
In cryptographic terms, whales are entities that hold at least 1,000 BTC. Many of them accumulated early and are known to influence market movements. The “new whales”, on the other hand, have accumulated their BTC wealth more recently, increasing the probability that they include institutional investors or companies.
The two previous for -profit waves followed the launch of the negotiated funds in exchange for Bitcoin, the implementation of the inauguration of US President Donald Trump. The two periods were followed by a cooling phase extended in Bitcoin and wider cryptography markets.
However, this cooling phase turned into a full -fledged sale at the start of 2025 after Trump’s tariff agenda rocked investors and raised concerns about economic growth and inflation.
However, Bitcoin and the wider cryptography market have suddenly rebounded since early April, the BTC reaching a new record greater than $ 123,000 in July.
In relation: Bitcoin Price Retargets $ 119,000 while treasury bills buy 28K BTC in two days
The old whales also go back
While cryptocurrency analysis has highlighted new whales such as the main engines of the recent profits, a long -term entity that accumulated 80,000 BTC during the Satoshi Nakamoto era recently made $ 9.7 billion in profits.
As Cintelelegraph indicated, the transaction was executed in several slices via Galaxy Digital, sales are sent through major exchanges, including Binance, Bybit, Coinbase and Bitstamp.
Despite a brief 4% drop in the price of bitcoin after the sale, the market quickly recovered, suggesting high demand and absorption capacity, even in the face of large -scale liquidations.
Bitcoin’s performance this year has exceeded most other assets, including the stock market. Although the S&P 500 has reached record heights last month, it is down 15% of up to date when it is measured in terms of Bitcoin. Since 2012, the 99.98%Bitcoin Sub-Performed Bitcoin Sub-Performed Index according to Bitbo data.
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