Despite the increasing corporate interest of Bitcoin’s Spot ETFs, prices have been stuck in the $ 100,000 - $ 110,000 band for a while. Charles Edwards, the founder of Capriole Investments, explains this as follows:

“People ask why Bitcoin is still around 100k. The reason is very clear: OGs, that is, long -term Bitcoin investors sell to Wall Street.”

According to Edwards, long-term investors (LTH-Long-Term Holders) have launched a large amount of BTC since the launch of Spot ETFs in January 2024. However, this supply began to be absorbed by new corporate investors.

📊 Treasury companies raise demand

According to the graph shared by Edwards, the new group of investors who received BTC in the last six months - mostly corporate treasures - has completely absorbed the BTC, which was sold by long -term investors in 1.5 years.

Stating that this tendency is a “giant purchase wheel” (Flywheel), Edwards predicts that the ETF agenda will remain secondary and the tendency of companies to create a BTC treasure directly.

Among the new companies that were introduced to the market last week, the following were:

Cardone Capital (Real Estate)

ProCAP (Anthony Pompliano’s attempt to open to the public)

Panther Metals (Mining)

Green Minerals (Norwegian Deep Marine Mining Firm)

📉 Short -term profit realization and cautious waiting

Jeff Mei, COO of the BTSE exchange, said investors turned to short -term profit realization before the customs duty decision on July 9. Especially due to uncertainties that may occur in trade negotiations, hedge sales against decline have increased.

Han Xu from Hashkey Capital said that the markets expect political developments such as US macroeconomic data and Trump’s budget bill to be announced this week.

“The rise trend may not be accelerated before these risks become clear. An unexpected development may initiate a wave of sales.”

⏸ Bitcoin: still but strong

The price of Bitcoin is often fluctuating in the $ 102,000 —110,000 band after the second time has increased to $ 100,000 for the second time. Although it is out of this December from time to time, a permanent break is not seen.

However, this silence does not overshadow the ongoing institutional interest on the ETF side:

In the last two weeks, more than $ 3.2 billion entered the Spot ETFs.

There was no exit day during this time.

Every week new BTC treasure companies emerge.

Finally, on Monday, Bitcoin rose by 1.2 %and tested $ 108,750 resistance, but did not succeed in exceeding this level.