Key Takeaways
Bitcoin, that eternal enigma, saw over $421 million in long-dormant coins stir from their slumber in July. Even as miners cast their weight upon the market, BTC’s structure stood like a stoic giant. $117K now looms as a gatekeeper of fate.
Bitcoin [BTC], that sly fox, never fails to keep traders on their toes-like a cat with a mouse in its jaws. 🐱
July was no exception, with a sudden spike in Coin Days Destroyed (CCD) that signaled long-dormant coins (worth over $421 million) finally stretching their legs. 🧟♂️
Profit-takers, those ever-hungry vultures, were quick to strike, confirmed by a jump in SOPR to 1.17. 🦅
Yet, despite miners adding extra weight to the sell-side in two clear waves, the market didn’t flinch-like a stone in a storm. 🌩️
The Old Coins Stir, Yet Panic Fails to Rise 🐍
In July 2025, over $421 million worth of dormant Bitcoin was moved, pushing CCD sharply higher. 📈
Normally, that kind of activity brings questions about LTHs rushing to exit near a market top. But the data told a different story-this is profit-taking, the truest of dances. 🕺
The SOPR spiked to 1.17, confirming that sellers locked in healthy gains compared to the lows of 0.88 in March 2023 and 0.97 in April 2025. Despite the selling, the market’s bullish structure held firm-like a drunkard’s grip on a bottle. 🍷
The Miners’ Retreat: A Tale of Two Waves 🌊
Between June and August 2025, miners made their presence felt with two historic inflow waves. 🧱
First came ViaBTC’s sharp transfers on the 19th of June, largely funneled into Binance and Coinbase Advanced, followed by F2Pool’s 7th of August push that spread across smaller exchanges. 🚀
Together, these phases drove miner inflow realized price to record highs, driving short-term volatility and concerns of concentrated selling. 🧨
But the tone has shifted since then. The 30-day moving average of Miner-to-Exchange Flow has dropped to short-term lows, proving reduced distribution and even signs of accumulation. 🧼
With Bitcoin holding above $116K, that miner restraint has only added confidence to the latest rally-like a beggar’s coin in a noble’s pocket. 💰
$117K: The Crossroads of Hope and Despair 🌪️
Right now, $117K is a critical zone. Both the CVDD Channel and the Fibonacci-Adjusted Market Mean Price show that above this level, the market often hesitates or tops out. 🕳️
That makes it a zone of strong interest but also indecision. The smarter play would be to wait for a convincing move, like a breakout above $118K, before calling further upside. 🤔
History suggests these markers don’t miss often, and at press time, Bitcoin was once again approaching that make-or-break threshold with traders watching closely-like wolves circling a lamb. 🐺
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2025-09-15 07:18