Journalist
Aware:
Key control
Bitcoin saw a movement of more than $ 421 million in long -term coins in July. Even when the miners added sales pressure, the BTC structure remained intact. $ 117K is now acting as a critical resistance level.
Bitcoin [BTC] It never stops keeping merchants alert.
Julio was no exception, with a sudden increase in the days of destroyed coins (CCD) that indicates that long -term currencies (for a value of more than $ 421 million) finally decided to stretch their legs.
The profits were quick in the raffle, confirmed by a SAPR jump to 1.17.
However, although the miners add extra weight to the side of the sale in two clear waves, the market did not shudder.
Old coins in motion, but there is no panic in sight
In July 2025, more than $ 421 million moved in latent Bitcoin, pushing CCD much higher.
Source: Cryptoquant
Normally, this type of activity brings questions about the LTH that rush near the top of the market. But the data told a different story: this is a profit taking!
Source: Cryptoquant
The SOPR increased to 1.17, confirming that the sellers locked healthy profits compared to the minimum of 0.88 in March 2023 and 0.97 in April 2025. Despite the sale, the market bullish structure remained firm.
The miners retire
Between June and August, 2025, the miners made their presence feel with two historical entry waves.
Source: Cryptoquant
First came the acute transfers of Viaabtc on June 19, largely channeled in Binance and Coinbase advanced, followed by the thrust of August 7, F2Pool that extended by smaller exchanges.
Boards, these phases promoted the price of the entry of miners to register maximums, promoting short -term volatility and concerns of the concentrated sale.
Source: Cryptoquant
But the tone has changed since then. The 30 -day mobile mining average to exchange has fallen to short -term minimal, which has demonstrated a reduced distribution and even signs of accumulation.
With Bitcoin that remains above $ 116K, that restriction of miners has only added confidence to the last rally.
$ 117K: The level to see
At this time, $ 117K is a critical area. Both the CVDD channel and the median price of the market adjusted by Fibonacci show that above this level, the market often doubts or exceeds.
That makes it an area of great interest but also indecision. The smartest game would be to wait for a convincing movement, as a break above $ 118K, before calling more up.
The story suggests that these markers are not often lost, and at the time of publication, Bitcoin approached that makeup threshold or broken with the merchants who observe closely.
