Bitcoin holders are increasingly reluctant to part with their coins, as reported by blockchain analytics firm Glassnode, which indicated that a vast majority of investors are currently experiencing unrealized profits following Bitcoin’s rebound to $107,000.
Key Insights:
Most Bitcoin investors are sitting on unrealized gains averaging 125%, with few miners opting to sell.
The support level around $98,300 showcases robust confidence among short-term holders.
Analysts caution that selling pressure from long-term holders may hinder BTC’s upward momentum despite prevailing bullish sentiment.
Glassnode highlighted that Bitcoin has established strong support near $98,300, the mean price paid by short-term holders—those who acquired their assets in the last 155 days. This price point has proven pivotal during the current consolidation phase.
The total unrealized profits among Bitcoin holders have surged to $1.2 trillion, approaching the all-time high of $1.3 trillion reached late last year, according to Glassnode.
Average Gains Soar to 125%
Currently, average Bitcoin investors are sitting on a paper profit of 125%. Nevertheless, selling activity has significantly diminished, with many investors opting to hold their assets rather than liquidate at current price points.
“Despite this increase in profitability, investor behavior shows a strong tendency towards HODLing, indicating that the current price range does not motivate extensive profit-taking,” stated Glassnode in their recent assessment.
Metrics involving realized profits and the uptick in long-term holder supply further suggest that many investors are content to wait for prices to rise even higher.
The firm also noted that following significant selling activity around Bitcoin’s May all-time high, short-term holders have paused, implying a belief that the market has the potential to climb further.
Glassnode concluded that a price movement either above recent highs or markedly lower might be necessary to release additional supply into the market.
The Futures tab adds derivatives context.
Volume, open interest, funding rates, and liquidations in one view.
Helps you understand positioning and market expectations. pic.twitter.com/jakRiTfi2G
— glassnode (@glassnode) July 1, 2025
As of the latest update, Bitcoin is trading at approximately $106,170, just 5.5% below its all-time high of $111,970, which was reached on May 22.
The strong monthly close for June above $107,000 has heightened anticipations for another upward movement.
However, some analysts warn that continued selling by long-term holders may be limiting Bitcoin’s momentum.
Charles Edwards from Capriole Investments noted that ongoing sales by these investors since the launch of spot ETFs in January have pressured prices, keeping Bitcoin around the $100,000 mark, despite significant interest from institutional investors.
Bitcoin’s Rally Faces Challenges Amid Profit-Taking
Bitfinex strategists reported that Bitcoin’s surge from $73,000 to over $107,000 since April appears to be losing steam, indicating a potential slowdown as profit-taking rises among investors who purchased below $80,000.
The analysts observed a decrease in spot trading volumes and a decline in buying pressure, hinting at a potential consolidation or local peak.
They stated that Bitcoin’s next major movement will hinge on broader macroeconomic factors, particularly the Federal Reserve’s interest rate decisions and sustained institutional demand driven by U.S. spot Bitcoin ETF inflows.
These ETFs have attracted $4.63 billion since June 9, with expectations for continued positive capital flow.
Despite some short-term caution, analysts assert that Bitcoin’s longer-term structure remains robust, with key support levels continuing to hold.
Economist Donald Dean has suggested that Bitcoin appears to be gearing up for a breakout following a phase of tight consolidation near its recent highs.
$BTCUSD $BTC Bitcoin – Getting Ready to Move
Price Target: $130,981
Bitcoin is poised for an upward movement with tight consolidation at the volume shelf. The next target stands at the Golden Ratio around $130k. pic.twitter.com/XrEA4eeH5b
— Donald Dean (@donaldjdean) June 30, 2025
The original news article titled “Bitcoin Investors Hold Tight as BTC Finds Strong Support at $98K, Glassnode Says” appeared first on Finance Newso.
