The price of BTC has been fluctuating for 42 days between $ 100,000 —110,000. Despite ETF purchases, regulatory clarity and positive macro signals, there was no strong fracture. So why?

Alexander Blume (Two Prime):

“While speculative investors reduce risks, long -term investors make purchases from the bottom. The balance between these two groups is the reason for the current price stability.”

💼 Short -term investors and miners on sale

According to Glassnode data:

The addresses that hold BTC between 6-12 months only sold $ 904 million this week.

For more than 12 months, those who kept for more than $ 1.2 billion last week made the biggest sale of the year.

Despite ETF request, these sales prevented the price rise.

There is a similar table on the miners front:

Since the end of May, 30,000 BTC came out of their hands.

The total amount of BTC held in the wallets of the miners fell from 1.94 million to 1.91 million.

Philippe Bekhazi (XBTO): “Miners sell continuously, and long -term investors reduce positions to manage dollar -based obligations.”

🔁 Alternative returns attract attention

Benjamin Lilly (Jarvis Labs) states that investors who turn to delta-neutral strategies at prices over 100K are coming out of the market. High financing rates (15–30%APY) create free earnings opportunities.

🪙 Bitcoin is no longer a “giant return” tool?

Bitcoin now takes on the identity of a “Value Storage Tool” in the eyes of corporate investors. This situation directs some long -term owners to diversity:

Shares

Gold

SPECIAL INVESTMENTS

Jimmy Yang (Orbit Markets):

“Investors no longer expect 10x, 100x returns. They gradually reduce their BTC assets to balance their portfolios.”

📈 What is expected?

Market experts do not expect a major movement in the near future. Both stocks and BTC are close to the summit of all time. However, a breaking may come after low -volume summer months.

Markus Thielen (10x Research):

“Volatility is stuck, this does not last long. $ 102,000 support should be watched as $ 106,000 resistance.”