Bitcoin remains range-bound between $100,000 and $110,000, a price consolidation influenced significantly by profit-taking activity among mid-to-long-term holders.
Significant realized profits were recorded from coins held for 3–5 years ($849 million) and 7–10 years ($485 million). Daily realized profits peaked at $2.46 billion, sustained by a 7-day moving average of $1.52 billion, confirming persistent profit-taking pressure.
Market metrics indicate strong absorption capacity despite this sell pressure. Consistent movement of older coins, measured via Spent Output Age Bands (SOAB) and Binary Coin Days Destroyed (BCDD), aligns with patterns typically observed during bull markets.
Historical seasonal trends bolster optimism for July. Bitcoin has historically delivered average returns of 7.56% during the seventh month, posting gains in eight out of the previous twelve years.
Supporting this outlook, technical analysis highlights BTC/USD has been in a sideways consolidation phase for 195 days since mid-December. Historical precedents suggest major rallies often unfold within 30 to 40-day windows, pointing towards a potential breakout.