Bitcoin News Today: Bitcoin Long-Term Selling Eases in August After $2.75B July Profit Surge

Bitcoin selling pressure from long-term holders appears to have eased in August, following an extended period of aggressive profit-taking in July that saw daily realized gains frequently surpassing $1 billion [1]. According to on-chain data provider Glassnode, the slowdown in selling activity suggests that long-term investors are re-evaluating their strategies after months of strong price momentum [1]. This shift could signal a potential stabilization phase in the market, with the cryptocurrency stabilizing near recent highs after a sustained period of volatility and elevated trading volumes.

The July profit-taking was characterized by significant participation across multiple age cohorts of Bitcoin holders, with those holding the asset for between six and twelve months, as well as those with over one year of ownership, contributing heavily to realized gains. At one point, the daily realized profits neared $2.75 billion, marking one of the most intense profit-taking periods on record [1]. However, the trend began to reverse in August, with the rate of selling declining sharply, as noted in a July 11, 2025 tweet from Glassnode showing a marked drop in the 7D SMA of profit realization [2].

Analyst Crypto Tony has highlighted that Bitcoin’s price movement is currently forming a potential leading diagonal pattern, suggesting that a short-term correction could be on the horizon to fill what he refers to as a “BIG CME gap” [3]. This technical structure, as outlined in an August 11, 2025 tweet, is expected to lead to a temporary decline before the market consolidates between September and November [3]. Following this consolidation, a resumption of the broader uptrend could be expected as early as late 2025, should the Elliott Wave pattern hold [3].

Glassnode’s data also pointed to spikes in realized profits in November 2024 and early 2025, suggesting that the current easing of selling pressure may be part of a larger cyclical trend rather than a one-off event [1]. The broader market is now watching closely for signs of renewed volatility, as historical patterns indicate that periods of consolidation are often followed by either a continuation of the bullish trend or a pullback driven by external factors.

As of the latest data, Bitcoin was trading at $121,578.56, having gained 2.74% in the past 24 hours. Traders continue to monitor on-chain metrics and technical indicators for further clues on the potential next direction of the price. While the easing of selling pressure may offer some optimism for long-term holders, market participants are advised to remain cautious, as liquidity conditions and broader macroeconomic developments can quickly influence market sentiment.

Source:

[1] Cold Wallet Hits $5.8M While Tron Sees $1B in Gains and ...

https://crypto-economy.com/cold-wallet-hits-5-8m-in-presale-as-tron-nears-1b-in-realised-gains-cardano-slides-2/

[2] https://twitter.com/glassnode/status/1211204889418138112

[3] https://twitter.com/CryptoTony__/status/1211204891214489600