Bitcoin Hits $112K as Holders Show Strong Confidence
Key Takeaways
- Bitcoin recently reached a new all-time high of USD 112,000.
- Despite USD 11 billion in realized profits, many investors are not selling.
- Key indicators such as SOPR and exchange netflows suggest HODLing rather than selling.
- Market participants remain optimistic about rising prices.
HODL Instead of Selling: Investors Hold on to Their Bitcoins
Bitcoin (BTC) recently hit a new all-time high of USD 112,000. Normally, many investors use such price surges to take profits. But this time, behaviour is different: both large investors (whales) and retail holders are selling significantly less than in previous market phases.
According to data from CryptoQuant, only 104,000 BTC have been realized — equivalent to about USD 11 billion. In comparison, this figure was much higher during previous peaks. The so-called “Realized Profit” threshold, which indicates a potential market top, is around 350,000 BTC. The current gap from this level suggests that many investors are betting on further price increases.
SOPR Shows Reluctance to Sell
Another indicator of current restraint is the Spent Output Profit Ratio (SOPR). This metric measures whether coins are being sold at a profit. Over the past five days, the SOPR has declined despite rising prices. This means that many investors, even though they are in profit, are choosing not to sell.
Whale behaviour also confirms this trend. While they transferred over USD 1 billion to exchanges during previous rallies, the current figure is only USD 300 million. This shows that large investors are holding back.
Less Movement: Spent Volume and Exchange Flows
A look at other indicators reinforces the picture. The “Volume Spent by Age” — the volume of older BTC transactions — has decreased by USD 1.1 billion. This shows that even long-held coins remain in wallets.
At the same time, exchange netflow is negative. This means more BTC is being withdrawn from exchanges than deposited — a clear sign of accumulation rather than selling.
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What Does This Mean for the Bitcoin Price?
The current market environment points to continued bullish sentiment. Many investors are expecting further price increases. If this attitude continues, BTC could once again surpass the USD 110,000 mark.
However, there are also uncertainties. Discussions about potential trade tariffs have temporarily pushed the price down to USD 106,000. A consolidation in the range of USD 104,000 to USD 110,000 is therefore possible.
Our Assessment
Investor behaviour shows a clear shift in the market. Instead of selling at all-time highs, many are holding on to their BTC. This restraint indicates increased confidence in Bitcoin’s long-term value. The data suggests that many investors are betting on further price gains. Short-term corrections are possible, but the fundamental picture remains stable.
If you’re considering investing in Bitcoin or other cryptocurrencies, it’s worth keeping a close eye on market indicators — especially during phases like this, when market behaviour is changing.
Sources
- CryptoQuant
- Glassnode
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | 107583 |
| 24h % | 0.11 % |
| 7d % | 4.12 % |
| 30d % | 14.51 % |
| 60d % | 22.75 % |
| 1y % | 57.03 % |
| Market Cap | $2,137,817,369,927.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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