Bitcoin (BTC) Price Alert: $131,000 Target in Sight Even as Traders Cash Out
Bitcoin bulls aren’t backing down—even as profit-taking looms, $131K looks like the next stop.
Why the optimism? The market’s shrugging off short-term sell pressure like it’s a minor speed bump. Institutional inflows, ETF demand, and that classic crypto FOMO are fueling the fire.
Meanwhile, Wall Street’s still trying to explain why they called it a 'bubble' at $30K. (Spoiler: they missed the memo.)
Key levels to watch? Hold above $100K, and the path to six figures stays wide open. Stumble? Well, even corrections here just mean cheaper entry for the smart money.
One cynical truth? The same suits now preaching 'digital gold' were the ones laughing at pizza purchases in 2010. Welcome to finance’s most delicious irony.
TLDR
- Long-term Bitcoin holders are taking profits at highest levels this year, with SOPR reaching 2.5, but remains below the 4.0 threshold that historically marks local tops
- Whales and miners continue showing bullish behavior with Whale Exchange Ratio at 0.42 and Miner Position Index at -0.2
- Institutional investors sold $131.40 million worth of Bitcoin in 24 hours, ending a 12-day buying streak
- Technical analysis suggests Bitcoin could reach $131,000 if it holds above $117,416 Fibonacci support level
- Prediction markets assign 40% probability that Bitcoin will reach $125,000 by August 1, 2025
Bitcoin has entered a consolidation phase after reaching its all-time high above $123,000. The cryptocurrency is currently trading around $116,000 to $121,000 range.
Long-term Bitcoin holders have begun taking profits at the highest rate seen this year. The Spent Output Profit Ratio (SOPR) has climbed above 2.5, marking its peak for 2025.
Despite this profit-taking activity, the SOPR remains below the critical 4.0 threshold. This level has historically marked Bitcoin’s local tops, including during the 2021 bull run.
The current SOPR reading suggests long-term holders have not fully exited the market. This indicates potential room for further price increases.
The Binary Coin Days Destroyed indicator shows a reading of 1. This signals continued selling pressure from long-term holders.
Bitcoin has posted a 2.0% gain over the past seven days. The 14-day performance shows a 9.7% increase, while the 30-day period reflects a 16.2% gain.
Whales and Miners Remain Bullish
While long-term holders are selling, other market participants show different behavior. Whales and miners continue to display bullish sentiment.
The Whale Exchange Ratio currently sits at 0.42 on CryptoQuant. This suggests whales are actively trading on exchanges with recent activity hinting at continued bullish momentum.
The Miner Position Index (MPI) stands at -0.2 and is trending upward. When the MPI is negative, it indicates miners are holding onto their bitcoin rather than selling.
This miner behavior could reduce the circulating supply. Such conditions often create the foundation for supply squeezes.
Institutional investors have shifted their approach in recent trading sessions. They sold $131.40 million worth of Bitcoin in the past 24 hours.
This selling activity ended a 12-day streak of net institutional buying. However, their total net holdings remain at $111.47 billion according to CoinGlass data.
Technical Analysis Points Higher
Technical analysis from Ali Martinez highlights key price levels for Bitcoin’s future movement. The analysis focuses on Fibonacci retracement and extension levels.
Bitcoin $BTC could march toward $131,200, so long as $117,400 holds as support! pic.twitter.com/dst2RU6V02
— Ali (@ali_charts) July 22, 2025
The critical support level sits at $117,416, which represents the 0.786 Fibonacci retracement. Martinez suggests Bitcoin needs to hold above this level for continued bullish momentum.
If Bitcoin maintains support above $117,416, the next target sits at $131,205. This level represents the 1.272 Fibonacci extension.
An upward trend line has provided consistent support since late June. Bitcoin briefly dipped below this trendline NEAR $116,000 but quickly rebounded.
Prediction markets support the bullish outlook for Bitcoin’s price. Data shows a 40% probability that Bitcoin will reach at least $125,000 by August 1, 2025.
Market participants assign a 13% chance that Bitcoin will hit $130,000 by the end of July. A smaller 4% believe the price could reach $140,000 within the same timeframe.
Public companies now hold over 4% of Bitcoin’s total supply. This development signals rising institutional interest in the cryptocurrency.
The convertible debt market has seen around $10-15 billion in capital inflows. Companies like MicroStrategy use this financing method to increase their Bitcoin holdings.