Bitcoin Faces Short-Term Selling Pressure Amid Whale and Miner Activity, Long-Term Models Suggest Potential Upside

Key Points

1. Bitcoin's recent pullback is driven by profit-taking from whales and miners cashing out after the $123,300 peak.

2. Miners sold approximately 15,000 BTC immediately after the all-time high, reflecting concerns about short-term volatility.

3. Historical data shows Q3 often experiences minimal median returns, followed by strong rebounds in Q4, with Q4 median returns historically at 52%.

4. Charles Edwards’ Energy Value model ties Bitcoin’s intrinsic worth to mining energy consumption, reinforcing confidence in Bitcoin’s long-term growth.

5. Options traders are preparing for a price reversal, with strike prices set at $80,000, $95,000, and $100,000 for August and September, suggesting an expectation of a 10-30% price decline in the near term.