Profit-Taking Wave Hits Bitcoin, But Demand Keeps Prices Steady

Analysts say the renewed activity from these early investors lines up with a broader pattern of profit-taking that tends to surface when prices approach cycle highs.

Data from Glassnode confirms that whale addresses — those with 100 to 10,000 BTC — now control fewer coins than at any point since 2018.

The reduction has been gradual but persistent since late 2024, showing that big holders are trimming positions even as the market hovers near record territory.

Checkonchain estimates suggest that between January and July, long-term holders realized $3–4 billion in gains.

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Such selling pressure has yet to knock Bitcoin off its perch entirely, but it does raise questions about how much higher the rally can go without fresh inflows from institutions and ETFs.

For now, Bitcoin remains steady at around $110,000, showing resilience despite the steady distribution.

The key question: will incoming demand be strong enough to absorb continued whale profit-taking, or will these moves set the stage for a deeper correction?

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