Bitcoin faces mounting selling pressure as mid-cycle investors accelerate profit realization, triggering a pullback in prices and signaling a potential consolidation phase.
Holders with 6-12 month positions recently realized $904 million in profits, representing 83% of all daily realized gains. This cohort’s intensified profit-taking created significant downward pressure on BTC prices, causing a retreat from $108,990 to the current $106,853 trading range.
In contrast, long-term holders demonstrated stability with reduced selling activity. Investors holding Bitcoin over 12 months realized just $324 million in profits, a notable decline from $1.2 billion the prior week. This resilience is reflected in the Long-Term Holder SOPR metric dropping sharply from 3.4 to 1.8, indicating restrained selling behavior among veteran investors.
The market now shows signs of entering a consolidation phase between $104,000 and $106,000. Sustained profit-taking by newer holders continues to cap upward momentum, delaying potential breakouts beyond the $107,000 resistance threshold.