Bitcoin's recent price action shows signs of consolidation as long-term holders begin to take profits, with the cryptocurrency hovering just below its January peak. Currently trading at $103,485, Bitcoin remains within striking distance of its all-time high of $109,000, despite a slight 0.6% dip over the past 24 hours. Market analysts are closely monitoring on-chain metrics, particularly the Bitcoin Binary CDD, which indicates increased activity from large holders. This development suggests a potential inflection point in Bitcoin's upward momentum, as whale movements often precede significant market shifts. The coming days will be critical in determining whether Bitcoin can break through resistance to set new records or if profit-taking will lead to a deeper pullback.
Bitcoin Whales Show Signs of Profit-Taking as Market Nears All-Time High
Bitcoin's upward momentum faces a potential inflection point as long-term holders exhibit renewed activity. The cryptocurrency currently trades at $103,485, a marginal 0.6% dip over 24 hours but remains within 5% of its January peak at $109,000.
Market analysts observe consolidation patterns emerging, with CryptoQuant's Avocado Onchain noting significant movements in Bitcoin Binary CDD metrics. These technical indicators suggest whale addresses may be preparing to realize gains, creating anticipation of increased volatility.
The asset's resilience NEAR record levels continues to reflect strong fundamental support, though short-term fluctuations indicate some cooling after recent gains. All eyes remain on whether institutional demand can absorb any potential sell pressure from large holders.
Bitcoin Long-Term Holders Cash In Amid Price Rally, Yet Market Cycle Peak Remains Elusive
Bitcoin's recent surge has triggered a wave of profit-taking among long-term holders, according to on-chain analytics. Investors holding BTC for more than 150 days have significantly increased sell-side activity, capitalizing on the cryptocurrency's upward momentum. The Long-Term Holder Spent Output Profit Ratio (LTH-SOPR) bottomed at 1.32 in mid-March before climbing steadily as market sentiment improved.
This behavior pattern mirrors historical cycles where early profit-taking precedes major market tops. While the current sell pressure suggests some investors are rotating out of positions, the absence of euphoric volume indicates the cycle peak may still lie ahead. Market structure remains intact with institutional inflows continuing to provide underlying support.
Arthur Hayes Forecasts $1M Bitcoin by 2028 Amid Capital Control Fears
Bitcoin could reach $1 million by 2028, according to former BitMEX CEO Arthur Hayes. His prediction hinges not on ETF inflows or institutional adoption, but on anticipated capital controls in the United States. Hayes argues that financial restrictions on foreign investors will trigger a flight from traditional assets into BTC and gold.
This isn't Hayes' first bold BTC price prediction. Earlier this month, he cited Treasury buybacks, bond market panic, and 'monetary detonation' as catalysts for institutional Bitcoin adoption. His latest thesis introduces capital controls as a new variable in Bitcoin's potential ascent.
$307M Bitcoin Movement Sparks Speculation Amid Market Dip
Whale Alert detected six consecutive bitcoin transactions totaling $307 million as prices slipped from $104,017 to $102,055. The transfers of 493-514 BTC each initially appeared as whale withdrawals from Coinbase, but blockchain analysis reveals internal reshuffling between the exchange's wallets.
Coinbase's role as both retail platform and institutional custodian complicates interpretation of large movements. The transactions coincide with Bitcoin's minor retreat from recent highs, highlighting how exchange flows can amplify market sentiment during volatility.
100,000 Bitcoin Withdrawn From Exchanges as Price Nears All-Time High
Bitcoin's exchange reserves have plummeted by 100,000 BTC in three weeks, signaling aggressive accumulation ahead of a potential breakout. The cryptocurrency now trades less than 5% below its January peak of $108,786.
On-chain analyst Ali Martinez observes dwindling liquidity across trading platforms, with reserves dropping from 3.11 million to 3.02 million BTC since late March. This exodus amplifies Bitcoin's scarcity thesis—a fundamental driver of its bull cycles.
Ukraine Bitcoin Reserve Bill Announced with Binance Support
Ukraine is advancing plans to establish a national Strategic Bitcoin Reserve, with government officials confirming a new bill to facilitate BTC holdings as part of state reserves. The MOVE signals growing institutional adoption of cryptocurrency as a treasury asset.
Binance's involvement underscores the exchange's expanding role in sovereign crypto initiatives. The collaboration highlights the intersection of decentralized assets and traditional governance frameworks.
