Well, well, well—the mighty Bitcoin, that wild beast, couldn’t hold its ground above $120,000. Instead, it unleashed a torrent of selling from those enormous holders. It’s like watching a circus—big clowns dropping their balloons, and everyone else scrambling. They call it the “third major profit-taking wave,” as if the market’s just a tired soap opera that keeps repeating itself, only with fatter wallets. 🎭
By late July, those clever folks who realized their gains triumphed to a staggering $6 to $8 billion—almost enough to buy a small country—or at least a decent mansion. These peaks, oh, how poetic, danced on the edges of tops in March and December 2024, according to that fancy onchain analytics firm CryptoQuant. It’s all about the timing—like a bad joke waiting for the punchline.
This latest sell-off was whipped up by what CryptoQuant calls “new whales”—those fresh, shiny monsters who just got their hands on a boatload of BTC once prices crossed the magical $120,000 barrier. Ah, the new whales—they’re the newbies in the ocean of Bitcoin, probably corporate giants or institutional sharks trying to swim with the big fish. 🐋
Whales are the giants—each wielding at least 1,000 BTC, often accumulated during the good old days when Satoshi was still whispering in the dark. And now? Here come the “new whales,” cashing out their chips, looking as innocent as a kitten but with the wallet of a lion.
Those previous profit waves? Oh, they were the glamorous launches of U.S. spot Bitcoin ETFs and Trump’s inauguration—sure signs the market was about to puff up or explode. And explode it did, in early 2025—thanks, Trump tariffs! Investors muffed their tea, worried about the economy, and the crypto market went into a nosedive faster than you can say “regulation.”
Yet, like a stubborn mule, Bitcoin and its crypto comrades rebounded with a vengeance in April. It soared past previous highs, hitting above $123,000—proof that even a rollercoaster needs its ups. 🎢
The Return of the Old Sharks
While CryptoQuant points fingers at the fresh whales, let’s not forget the OGs—the ancient whales who’ve long been lurking in the shadows. One such titan, who amassed 80,000 BTC during the Satoshi era, recently cashed out a hefty $9.7 billion. Easy come, easy go, they say. The transaction? Conducted in bits and pieces via Galaxy Digital, with sales zipping through Binance, Bybit, Coinbase, and Bitstamp—like a chess game with millions of dollars in play.
After that sale, Bitcoin took a tiny 4% dip—like a hiccup—yet the market absorbed it like a sponge. Demand stayed strong, proving once again that in the world of crypto—big fish can even be eaten and digested quickly.
This year, Bitcoin’s performance outshined nearly all assets—stock markets included! While the S&P 500 was busy hitting new highs, in Bitcoin’s language, it was DOWN by 15%. Since 2012, Bitcoin has outperformed the stock market by a staggering 99.98%—who needs boring stocks when you get this kind of thrill? 🎉
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2025-07-31 21:13