Whales Cash Out $1.54B in Bitcoin Profits—Yet Bull Run Shows No Signs of Slowing: CryptoQuant
Bitcoin's big players just banked a staggering $1.54 billion payday—but don't cue the bear market alarms yet.
Whales Take Profit, Market Barely Flinches
While institutional investors pocketed generational gains, on-chain data reveals stubbornly low exchange inflows—a classic hodler signal. The rally's foundations? Still rock-solid.
Liquidity Tsunami Absorbs Sell-Off
Retail FOMO and ETF inflows keep swallowing whale-sized sell orders like a BlackRock intern chugging $8 lattes. Even at all-time highs, the buy-side liquidity pool runs deeper than Wall Street's self-regard.
The Real Test Comes Next
Watch for whether these whales reload their bags—or start shorting their own positions like a hedge fund manager chasing performance fees. Either way, the casino stays open.
Miners Cashing Out?
As the price approached new highs, the Miners’ Position Index (MPI) – which gauges the ratio of miner outflows to their one-year moving average – spiked to levels last seen during major sell-off periods. This means that some of them may have begun taking profits into strength, a pattern often seen when the MPI reading rises above 2, hinting at larger-than-usual Bitcoin outflows from miners to exchanges.
While such moves can introduce short-term selling pressure, CryptoQuant explained that historical patterns indicate they do not always derail broader bullish trends when demand from other investor cohorts remains strong.
At the same time, Binance, the world’s largest cryptocurrency exchange, recorded net inflows of nearly 6,000 BTC between July 12 and July 14. This activity reversed a period of predominantly neutral or negative netflows. The sudden influx alongside the recent price rally points to potential arbitrage activity, derivative hedging, or preparations for large-scale transactions rather than outright panic selling.
Considering all these factors together, the uptick in miner activity and increased exchange deposits mean that while some market participants are realizing gains, others may be positioning for continued price action.
Amid these miner outflows and Binance inflows, Glassnode recorded one of the year’s largest profit-taking days.
Bitcoin Logs One of Its Largest Profit-Taking Days
According to the blockchain intelligence platform’s findings, bitcoin investors collectively realized $3.5 billion in profits over the past 24 hours.
This is one of the largest profit-taking days for BTC this year. Interestingly, long-term holders accounted for approximately $1.96 billion, or 56% of the realized gains, while short-term holders captured around $1.54 billion and accounted for the rest.
The significant wave of profit realization, led predominantly by long-term holders, demonstrated how seasoned investors are seizing the opportunity to lock in gains as Bitcoin hit a fresh peak while still allowing room for fresh capital to enter.
