Bitcoin investors holding assets between six and twelve months realized approximately $904 million in profits on June 16, representing the second-highest daily gain for this cohort in 2024. This significant profit-taking activity suggests shifting dynamics among mid-term holders amid current market conditions.
Concurrently, derivatives markets exhibited heightened caution as Bitcoin’s 25 Delta Skew metric flipped from negative to positive. This shift indicates increased demand for downside protection and reflects growing risk aversion among traders seeking to hedge against potential price declines.
Complementing this trend, whale inflows to Binance surged by nearly 100% over the past month, signaling strategic positioning by institutional players. Retail investor inflows to the exchange, however, remained comparatively subdued during the same period.
Despite these developments, Bitcoin demonstrated relative price stability, trading near the $106,169 level despite minor declines of 0.75% over 24 hours and 2.75% weekly. The convergence of profit realization, institutional activity, and defensive options positioning points to potential volatility shifts in the near-term market outlook.