In the past 30 days, retail investors have sold a net of about 75,000 bitcoins, equivalent to about $7 billion.
This is the biggest sell-off by retail investors since Bitcoin surpassed its all-time high of $73,000 in March 2024.
This phenomenon has attracted widespread attention in the market, especially as the price of Bitcoin continues to rise and approaches $100,000.
Profit-taking by retail investors
According to data from blockchain analytics firm Glassnode, retail investors’ profit-taking is intensifying, with profits realized in the market reaching $4 billion per day over the past two days.
This trend suggests that despite the record high price of Bitcoin, retail investors are choosing to cash in their profits at this time, possibly due to uncertainty about the future direction of the market.
Bitcoin balance on exchanges hits two-year low
Meanwhile, the balance of bitcoin held on exchanges has fallen to less than 3 million, the lowest level in two years. This data seems to indicate that the market's buying interest in bitcoin remains strong.
In contrast, the balance of Bitcoin on the over-the-counter (OTC) desk has increased by about 100,000, showing that large investors are actively entering the market and taking advantage of the rise in Bitcoin prices.
Active buying by big investors
While retail investors are selling, large holders (big players) are actively buying.
These holders have a balance of between 100 and 1,000 bitcoins, and have recently purchased a total of more than 140,000 bitcoins.
This phenomenon shows that although retail investors are taking profits, big investors are increasing their positions on the other side of the market, forming a clear contrast.
Market tug of war
The current market data presents a tug-of-war situation. On the one hand, retail investors' profit-taking is similar to the behavior at the market top; on the other hand, the activity of the OTC market and the buying behavior of large investors show strong market demand.
This contradictory situation makes the short-term market outlook more complicated and uncertain.
in conclusion
In general, the current Bitcoin market is in a game between retail investors and large investors. The selling of retail investors is in sharp contrast to the buying of large investors, and the short-term trend of the market is still full of variables.
———Source article coin desk
