Large Bitcoin Investors Realize $1.54 Billion in Profits but Rally Still Intact: CryptoQuant
2025-07-15 11:42:47
Main Idea
Bitcoin's price briefly surpassed $120,000 before dropping below $117,000 amid volatility, with miner activity and investor profit-taking contributing to the market dynamics.
Key Points
1. Bitcoin's price declined by over 4% in 24 hours after briefly exceeding $120,000.
2. The Miners’ Position Index (MPI) spiked above 2, indicating potential short-term selling pressure from miners.
3. Binance recorded net inflows of nearly 6,000 BTC between July 12 and July 14, suggesting strategic positioning rather than panic selling.
4. Bitcoin investors realized $3.5 billion in profits, with long-term holders accounting for 56% ($1.96 billion) and short-term holders making up the rest ($1.54 billion).
Description
Bitcoin’s climb above the coveted $120,000 level was short-lived, as the cryptocurrency pulled back to below $117,000 amidst renewed volatility. Over the past 24 hours, it declined by over 4%. On-chain signals reveal increased miner activity, which suggests short-term selling pressure. Miners Cashing Out? As the price approached new highs, the Miners’ Position Index (MPI) – which gauges the ratio of miner outflows to their one-year moving average – spiked to levels last seen during major sell-of...
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