Bitcoin Stuck in $100K–$110K Rut as Profit-Taking and Network Activity Dry Up

Bitcoin's price action has turned into a snooze-fest—bouncing between $100K and $110K like a trader refreshing their portfolio after three espresso shots.

Where’d all the hype go?

Realized profits are tanking, on-chain activity is thinner than a DeFi whitepaper, and even the usual moonboys are suspiciously quiet. Is this consolidation or complacency?

The institutional irony

Wall Street’s ‘digital gold’ narrative looks shakier than a leverage long during a whale dump. Meanwhile, retail’s too busy chasing the next memecoin to notice.

One thing’s clear: when even crypto’s volatility takes a coffee break, you know the market’s either gearing up for a breakout… or a brutal reminder that gravity exists.

Realized profit 

The cumulative realized profit for the cycle between 2023 and 2025 now totals $650 billion, already surpassing the entire period between 2020 and 2022. However, the current landscape signals reduced capital rotation. 

Furthermore, on-chain transfer volume fell 32% from the late-May high to $52 billion, and spot exchange turnover sits at $7.7 billion, well below earlier breakout levels.

A cost-basis density heat map shows a dense accumulation zone between $93,000 and $100,000. 

Bitcoin briefly tested the upper edge of that band during a weekend dip to $99,000 but reclaimed the six-figure threshold as geopolitical tensions eased. 

The report highlighted the cluster as structural support and noted that a decisive break could force holders in that range to capitulate and deepen a correction.

Derivatives reset as leverage sheds conviction

Futures liquidations spiked to $28.6 million for longs and $25.2 million for shorts during the whipsaw, flushing leverage on both sides. Open interest contracted from 360,000 BTC to 334,000 BTC, a 7% slide that cleared speculative excess. 

Annualized funding rates and three-month basis levels continue to decline over a multi-week period, suggesting that traders are hesitant to re-establish aggressive long exposure despite elevated volume.

The report noted that momentum remains constructive while Bitcoin holds above cost-basis support but a breakout requires “a clear pickup in demand, activity, and conviction.” Until those inputs emerge, the price is likely to oscillate within the current $10,000 range.

Bitcoin was trading at $107,630 as of press time, moving towards the cap of the prevailing range.