Bitcoin News Today: Bitcoin Unrealized Gains Top $1.4 Trillion as Market Absorbs $9.6 Billion Sell-off

Bitcoin’s unrealized gains have climbed above $1.4 trillion, reflecting a strong accumulation phase among investors who remain largely in profit and show no immediate signs of selling [1]. This milestone, reported by on-chain analytics firm Glassnode, underscores a growing reluctance among Bitcoin holders to take profits despite the digital asset trading near its all-time high [2]. On July 14, Bitcoin surged to over $123,000, and while prices have since pulled back to approximately $118,106, the market’s resilience remains intact [3].

One of the most significant tests of this resilience came last week, when Galaxy Digital executed a $9.6 billion Bitcoin sale on behalf of an early investor—among the largest single transactions in recent history [4]. Despite the massive size of the offload, the market absorbed the selling pressure with minimal disruption, with prices dipping only briefly to $115,000 before stabilizing around $119,000 [5]. The transaction highlights the deepening liquidity in the Bitcoin market, as well as the growing sophistication of over-the-counter trading services in handling large volumes without triggering panic [6].

The Net Realized Profit/Loss metric has also reached a record $3.7 billion, indicating significant movement of funds before and after the Galaxy Digital transaction [7]. Meanwhile, the Long-Term Holder Net Realized Profit/Loss metric hit a new high of $2.5 billion, signaling increased profit-taking behavior among long-term investors [8]. These figures suggest that while investors are still optimistic, the market is beginning to show signs of profit realization, especially at the institutional level [9].

From a structural perspective, Bitcoin’s cost basis is heavily concentrated in the $117,000–$122,000 range, suggesting that a large portion of the current supply was acquired during the recent bullish phase [10]. A notable absence of trading volume exists between $110,000 and $115,000, a level that could serve as critical support in the event of a pullback [11]. On-chain analysts warn that while the current environment reflects strong conviction in Bitcoin’s future, it also sets the stage for potential volatility should prices continue to climb, triggering further profit-taking or panic selling [12].

Despite these risks, the market’s ability to absorb large-scale selling and maintain stability near historical highs indicates a growing institutional and retail confidence in Bitcoin as both a speculative and store-of-value asset [13]. The $1.4 trillion in unrealized gains suggests that the majority of investors are still holding their positions, anticipating further upside [14]. Going forward, attention will shift to whether Bitcoin can break out of its current $105,000–$125,000 trading range. A sustained move beyond $141,000—aligned with the +2σ level of short-term holders’ cost basis—could signal a new wave of accumulation or, alternatively, a surge of profit-taking pressure [15].

Source:

[1] https://cryptoslate.com/insights/bitcoins-unrealized-gains-top-1-4-trillion-as-investors-resist-selling-pressure/

[2] https://www.reddit.com/r/CryptoCurrency/comments/1mdf2br/bitcoins_unrealized_gains_top_14_trillion_as/

[3] https://uk.finance.yahoo.com/news/97-bitcoin-wallets-now-profit-121536906.html

[4] https://www.chaincatcher.com/en/article/2194272

[5] https://www.xt.com/en/blog/post/bitcoin-withstands-9-6-billion-dump-realized-profits-hit-all-time-high