Bitcoin, $1.1 Billion Sell-off Bomb as Price Rises...Who Keeps Selling?

▲ Bitcoin (BTC), virtual asset sell-off/AI generated image

Bitcoin (BTC) continues to see its upward momentum repeatedly halted in the process of attempting to break through $75,000. Selling pressure originating from within the market, rather than the price itself, has been identified as a key variable limiting the rise.

According to foreign media on the 16th, Bitcoin recently temporarily surpassed $76,000 but failed to maintain its upward trend and underwent a correction in the $74,000 range. This structure prevents price increases from continuing, as profit-taking orders rapidly emerge after short-term rallies.

On-chain data clearly reveals the cause of this trend. Selling movements by short-term holders have sharply increased, creating supply pressure with each upward phase. In particular, as the price surpassed $75,000, approximately 65,000 BTC were found to have moved to exchanges within 24 hours.

Among these, about 61,000 BTC were estimated to be for profit-taking purposes. This means that market participants are utilizing every price increase as a selling opportunity. An analyst explained, “In the current market, a price increase acts as a sell signal.”

The structure of exchange inflows has also changed. The proportion of large-scale fund movements has sharply expanded, forming concentrated areas of selling pressure. Near $76,000, the proportion of large deposits surged to over 40% of total inflows, acting as a short-term resistance zone.

A key resistance line was also presented. On-chain analytics firm CryptoQuant identified the $76,800 range, which reflects the average purchase price of short-term investors, as a major resistance line. This price level has limited rebounds in the past, and the same pattern is repeating.

The scale of realized profits is also expanding. Recent daily realized profits reached $1.14 billion, marking one of the highest levels this year. However, analysis suggests that selling pressure has not yet peaked.

As a result, the current Bitcoin market has entered a phase where its rise is limited by internal structure rather than external factors. A selling trend dominated by short-term investors is repeating, solidifying a structure that suppresses price increases.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*