Well, it seems our dear friend Bitcoin has been playing a bit of a game of “let’s see who can be the toughest,” and by Jove, it’s proving to be quite the champion. Last weekend, some mysterious high roller — probably a shadowy mogul with a penchant for drama — decided to wave a giant banner of “sell” and offloaded a colossal chunk of Bitcoin, worth a smidge under ten billion bucks. Quite the firework display for the markets, I dare say.
According to the eggheads over at Glassnode — those think-tank types who spend their days gazing into the crystal ball of crypto — this unnamed hero of finance dumped roughly 80,000 BTC, likely with a tip of the hat to Galaxy Digital (probably a dodgy uncle of sorts). The market gagged and gasped, dragging the price down to a modest $115,000—no need to get melodramatic—and then, almost as a wink, it settled at a jaunty $119,000. It’s like watching a cat walk over a puddle and then remarking, “Well, that wasn’t so bad, was it?”
But here’s the punchline: our friend Bitcoin, in all his stubborn glory, simply shrugged and showed the world that even a flood of wealth the size of a small country couldn’t shake his stylish resolve. Even during the quiet, sleepy weekend hours, he absorbed the waves of sell-off like a duck in water — robust, resilient, and possibly a tad smug about it.
Now, hold onto your hats, because more than 97% of Bitcoin’s circulating supply is sitting on profits that would make a Wall Street wolf blush. These lads and lasses are sitting pretty, cashing in on paper gains that could fund a small island or at least a lifetime supply of cigars.
“So far,” says Glassnode with a sniff and a wink, “most folks are hanging on to their gains — but if Bitcoin decides to spring up another 20%, there might be a rush to cash out faster than you can say ‘cloud cuckoo land.’”
And what do the wise sages predict? Well, if Bitcoin decides to dance further north of 20%, the coming days may see a flurry of frantic profit-taking. Barriers at around $125,000 could act like a fortress, but if that’s breezed past, then we’re heading straight for the next big megaton — $141,000. Hold onto your monocles, folks — the fireworks are just warming up.
As we speak, Bitcoin’s trading at a snappy $117,651, which, considering the chaos, might just be the market’s way of saying, “Carry on, nothing to see here.”
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2025-07-31 23:22