New knowledge from the market intelligence agency Glassnode reveals that historic Bitcoin (BTC) is awakening, suggesting that sell-side strain might rock the crypto king.
In a brand new thread on the social media platform X, the crypto analytics platform notes that tens of 1000’s of tokens have sprung to life throughout the month of July, which means that early traders may very well be trying to take income.
“[Thursday] noticed one other wave of historic cash transfer on-chain, with 3,900 BTC aged over 10 years turning into lively. This follows the 80,000 BTC that moved on July 4, 2025. Such exercise from long-dormant provide usually displays inside reallocation, custodial shifts, or in some instances sell-side strain.”
In response to Glassnode, the highest crypto asset by market cap may nonetheless kind a “backside formation zone” if it fails to carry assist.
“The sharp rally from $110,000 to $117,000 created an on-chain air hole or a low-density accumulation zone. Because the $122,000 ATH (all-time excessive), worth has held above it. If assist fails, historical past reveals such gaps can nonetheless evolve into backside formation zones.”
In its weekly on-chain analytics report, Glassnode particulars how BTC reaching a $1 trillion realized market cap is a monumental step for the flagship cryptocurrency.
“Current capital influx has pushed Bitcoin’s realized cap above the $1 trillion mark for the primary time. That is really a monumental milestone for Bitcoin, highlighting its deep liquidity profile, and rising relevance on the macro stage. The bigger Bitcoin turns into, the extra capital could be saved inside it, and the bigger measurement could be settled through transactions.”
Bitcoin’s realized market cap calculates the worth of every coin on the worth it was final transacted (on-chain), fairly than the present market worth. The metric goals to signify the “true” capital influx into the BTC community.
Bitcoin is buying and selling for $116,671 at time of writing, a 2.1% lower over the last 24 hours.
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