{"id":17167,"date":"2025-10-20T08:25:27","date_gmt":"2025-10-20T06:25:27","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=17167"},"modified":"2025-10-20T08:25:27","modified_gmt":"2025-10-20T06:25:27","slug":"bitcoin-pioneers-cashing-in-analysts-suggest-price-pressure-continues","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/10\/20\/bitcoin-pioneers-cashing-in-analysts-suggest-price-pressure-continues\/","title":{"rendered":"“Bitcoin Pioneers Cashing In: Analysts Suggest Price Pressure Continues”"},"content":{"rendered":"

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The valuation of Bitcoin will face a difficult path in the future as long as long-term holders keep realizing profits, as per analysts.<\/p>\n

The inability of cryptocurrency markets to rebound was not attributed to manipulation, phony Bitcoin, or suppression, \u201cmerely classic sellers,\u201d remarked<\/a> analyst James Check on Sunday.<\/p>\n

Check mentioned that the significant amount of selling pressure from current Bitcoin (BTC<\/a>) holders is still not widely acknowledged, and that it is \u201cthe<\/em> cause of resistance\u201d at this time.\u00a0<\/p>\n

The analyst released a chart illustrating that the average age of spent coins has risen throughout the cycle, indicating that long-term holders were the ones disposing<\/a> of their assets.<\/p>\n

Another chart indicated that realized profits had surged to $1.7 billion daily while realized losses ascended to $430 million per day, marking the third highest point in this cycle.<\/p>\n

Simultaneously, the \u201crevived supply\u201d from older coins hit its second-highest point at $2.9 billion daily.<\/p>\n

Older coins return to supply as seasoned players take profits. Source: <\/em>James Check<\/em><\/a><\/figcaption><\/figure>\n

Bitcoin OGs realizing profits\u00a0<\/h2>\n

Crypto investor Will Clemente suggested<\/a> that \u201cthe past year of relative weakness for BTC has primarily been a shift of supply from OGs to TradFi,\u201d which is evident in onchain data.\u00a0<\/p>\n

\u201cThis dynamic will be largely inconsequential in the forthcoming years, as everyone is fixated on BTC\u2019s relative weakness.\u201d<\/p><\/blockquote>\n

Related: <\/strong><\/em>John Bollinger advises to \u2018pay attention soon\u2019 as significant movement could be imminent<\/strong><\/em><\/a><\/p>\n

Galaxy Digital CEO Mike Novogratz<\/a> echoed this view in an interview<\/a> with Raoul Pal last week.<\/p>\n

\u201cNumerous individuals in the Bitcoin realm who had held on for so long finally decided, \u2018I want to purchase something\u2019,\u201d he recounted, pointing to friends who acquired a yacht and a stake in a sports team.\u00a0<\/p>\n

\u201cPeople are trimming their positions because they\u2019ve had a fantastic run and we\u2019re merely processing that transition.\u201d<\/p><\/blockquote>\n

Novogratz confirmed that the only supply his firm has observed is from \u201colder OGs\u201d and miners.\u00a0<\/p>\n

Weekly closure maintains support\u00a0<\/h2>\n

Bitcoin has maintained support with a weekly closing candle at $108,700, as per<\/a> TradingView.<\/p>\n

\u201cSustaining this level could lead to a price increase to $120k+ eventually. Stability at this point is absolutely crucial,\u201d stated<\/a> analyst \u201cRekt Capital\u201d on Sunday.\u00a0<\/p>\n

The asset had regained $110,000 at the time of this writing, but it encounters more resistance just above this threshold.<\/p>\n

Magazine: <\/strong><\/em>Ether\u2019s price set to soar, Ripple seeks $1B XRP acquisition: Hodler\u2019s Digest<\/strong><\/em><\/a><\/p>\n