Bitcoin (BTC) Whales Break Silence: Is a Mid-Cycle Pivot Imminent?

Key Points

1. Bitcoin's price slipped 4% from all-time highs, with Coin Days Destroyed (CDD) surging to 28 million, indicating older Bitcoin holders were active.

2. Realized Profit and Loss (NRPL) spiked above $4 billion in realized profits, the highest since early Q2, reflecting significant profit-taking by whales and recent buyers.

3. The current market activity contrasts with late June, when long-term holders were accumulating quietly, suggesting strategic movements rather than random ones.

4. Key resistance levels are now at $124K and $136K, with $113K emerging as a support level during consolidations, and $101K being the critical baseline STH Realized Price.

5. The recent rally to $124K and subsequent correction have turned this level into a local top, with the market watching these key levels for future movements.