Bitcoin's price rollercoaster just took another wild dip—dropping to $114.5K as geopolitical jitters and opportunistic traders cashed out. Here’s the breakdown.
Tariff Tremors Shake the Market
Fresh fears of global trade wars sent shockwaves through crypto, with BTC absorbing the brunt of the sell-off. Classic risk-off behavior—except Bitcoin’s supposed to be the hedge, right?
Profit-Taking Frenzy
Whales and retail traders alike sprinted for exits after BTC’s recent rally. Because nothing says 'diamond hands' like dumping at the first sign of turbulence—Wall Street would be proud.
The Silver Lining?
Every panic-driven dip is a discount window for believers. Just don’t tell the guys who sold that they’ll probably FOMO back in at $150K.
Third Round of Profit-Taking Wave Hits BTC: CryptoQuant
Per on-chain data firm CryptoQuant, bitcoin just experienced its third major profit-taking spike of the bull run.
“Realized profits spiked to $6–8B in late July, on par with March and Dec 2024 peaks,” the firm wrote on X. “It was new whales who led the selling above $120K.”
Bitcoin just saw its third major profit-taking wave of this bull run.
Realized profits spiked to $6–8B in late July, on par with March and Dec 2024 peaks.
It was new whales who led the selling above $120K. pic.twitter.com/Q4FQkLXcin
The data provider further said that new cohorts of whales, who accumulated BTC within the last 155 days, were among the dominant sellers.
Previous profit-taking events have led to a two- to four-month period of consolidation before the next higher level, CryptoQuant wrote in a report. It added that the pattern is playing out again with diminishing US investor appetite.
“In the NEAR term, Bitcoin may continue to trade sideways as markets absorb macroeconomic signals, but a rise in inflation expectations or renewed institutional inflows could provide the momentum needed for another push toward its previous high and possibly even a new all‑time high,” James Toledano, Chief Operating Officer at Unity Wallet, told Cryptonews.
Besides, CryptoQuant also noted that it expects “renewed accumulation and a subsequent breakout to a new all-time high.”
