Bitcoin Under Pressure: Short-Term Holders Watch Profits Shrink—What’s Next?

Bitcoin's price wobbles as traders sweat shrinking gains—just another day in crypto's rollercoaster market.

Short-term holders feeling the squeeze? Welcome to the club. The ‘buy high, panic low’ strategy strikes again.

Meanwhile, Wall Street still pretends it ‘gets’ Bitcoin while hedging with gold. Classic.

Will BTC shake off the weak hands or buckle under sell pressure? Grab your popcorn.

TLDR

• Bitcoin has dropped to $115,000, marking a 3% decline over the past week after peaking at over $123,000 in mid-July.
• Opportunistic buyers accumulated around 120,000 BTC between $112,000 and $114,000, but this is insufficient to establish strong support.
• Short-term holders, who bought within the last 155 days, have seen their profitability decrease from 100% to 70%.
• Bitcoin whales recently booked over $44.5 million in profits, indicating increased sell-side pressure on the market.
• The Crypto Fear & Greed Index remains in the “Greed” zone, showing cautious but optimistic sentiment around Bitcoin.

After peaking at over $123,000 in mid-July, Bitcoin (BTC) has entered a phase of market indecision. As of now, the price hovers just above $115,000, marking a 3% decline over the past seven days. Analysts point to a breakdown below the $116,000 support zone on July 31, pushing Bitcoin into a low-liquidity “air gap” between $110,000 and $116,000.

Short-Term Holders Face Reduced Profitability

Data from Glassnode shows that opportunistic buyers accumulated around 120,000 BTC during a bounce between $112,000 and $114,000. However, analysts warn that this short-term activity is insufficient to create a strong support base.

~120k $BTC were acquired during the rebound from $112k to $114k – evidence of opportunistic buying. Yet supply within the $110k–$116k range remains sparse, meaning stronger accumulation is needed to FORM lasting support: https://t.co/1J8WjAFubu pic.twitter.com/vL4OL3hOlg

— glassnode (@glassnode) August 7, 2025

Short-term holders, who bought bitcoin within the last 155 days, are now experiencing shrinking profits. Their profitability has decreased from 100% to just 70%, signaling potential weakness in market confidence.

The current cost basis for short-term holders is around $106,000. Although this figure is still below the market price, it is nearing the current price level. If Bitcoin fails to break above the $116,000 level again, this could put pressure on holders.

Bitcoin Faces Sell-Off Pressure Amid Profit-Taking

Bitcoin whales have recently taken profits, with large wallets booking over $44.5 million in profits over the last 48 hours. This activity suggests that a wave of sell-side pressure is affecting the market. Despite this, the overall sentiment remains cautious but optimistic, as the crypto Fear & Greed Index shows Bitcoin sitting in the “Greed” zone.

Long-term Bitcoin $BTC holders booked roughly $44.5 million in profits in the last 48 hours! pic.twitter.com/KN4tu7znVT

— Ali (@ali_charts) August 7, 2025

On the 4-hour BTC chart, the Bollinger Bands indicate tightening volatility, suggesting that Bitcoin is preparing for a breakout. A move above the upper band NEAR $115,750 could trigger resistance at $118,000. However, if the price gets rejected, there could be renewed downward pressure with support at $112,000.

The Relative Strength Index (RSI) indicates neutral-to-slightly bullish momentum, with room for upward movement. Additionally, the MACD shows a potential bullish crossover, signaling a possible shift in momentum if the trend continues.