Bitcoin is seeing a reduction in selling pressure from large investors as its price continues to hold above $67,000.
Bitcoin whales are easing off their selling pressure as Bitcoin continues to gain strength over the past seven days, holding above $67,000.
“Bitcoin large sellers are exhausted and valuation metrics suggest positive momentum,” CryptoQuant head of research Julio Moreno wrote in a July 20 X post, referring to Bitcoin investors holding a balance of 1,000 to 10,000 Bitcoin.
Moreno added that “realized profits are minimal compared to March or May," when Bitcoin (BTC) exceeded $71,000 in both months. Bitcoin reached its all-time high on March 13, at $73,679.
