Bitcoin News Today: Ancient Whale Sells 80,000 BTC, Bitcoin Dips to $115,000, Stabilizes at $119,000, 97% Supply Profitable

A recent large-scale Bitcoin transaction involving 80,000 BTC sold by an "Ancient Whale" has drawn significant market analysis, with on-chain data revealing the sale's limited impact on broader market dynamics [1]. The transaction, valued at $9.6 billion, triggered a brief price decline to $115,000 before stabilizing at $119,000, a level below Bitcoin’s all-time high [1]. Despite the substantial sell-side volume, the market absorbed the pressure, underscoring the resilience of Bitcoin’s price structure amid large-scale distributions [1].

According to on-chain analytics firm Glassnode, the Bitcoin market remains characterized by robust unrealized profit metrics. As of the latest analysis, 97% of the circulating Bitcoin supply is in a profitable position, with accrued on-chain profits exceeding $1.4 trillion [1]. This suggests that the majority of Bitcoin holders are still realizing gains, even after the recent sale by a major holder [1]. The data highlights the persistent demand for Bitcoin, as market participants continue to maintain positions despite volatility [1].

On-chain valuation models indicate that Bitcoin’s price is currently fluctuating within a $105,000 to $125,000 range [1]. Analysts note that a decisive breakout from this range could potentially trigger a rally to $141,000, driven by the high concentration of unrealized profits at higher price levels [1]. However, such a move may also intensify selling pressure, as increased liquidity at these levels could lead to further price consolidation [1]. The interplay between profit-taking and market absorption capacity will likely remain a critical factor in Bitcoin’s near-term trajectory [1].

The sale by the "Ancient Whale" underscores the significance of large holder activity in shaping market sentiment, though the broader on-chain metrics suggest the network’s structural strength remains intact. As the price consolidates within its established range, observers are closely monitoring whether the $125,000 threshold will act as a catalyst for upward momentum or a retest of support levels [1].

Source: [1] Analysis: After the sale by the "Ancient Whale" of 80,000 BTC, 97% of the circulating supply is still in a profitable position,[https://www.theblockbeats.info/en/flash/305125]