Analysis: After the "80,000 BTC ancient Whale" sold, 97% of the circulating supply remains at a profit level.

BlockBeats news, on July 30, glassnode published an analysis regarding the "80,000 BTC ancient Whale" sell-off that occurred over the weekend, pointing out that despite the seller's trading volume reaching 9.6 billion dollars, the market effectively absorbed the selling pressure, resulting in the price falling to 115,000 dollars, and then briefly stabilizing at 119,000 dollars, slightly below the historical peak. The analysis stated that even after this large-scale distribution event, the unrealized profit held by market participants remains substantial. Currently, the paper gains exceed 1.4 trillion dollars, with 97% of the circulating supply still in profit. According to multiple on-chain valuation models, the Bitcoin price is currently fluctuating between 105,000 dollars and 125,000 dollars. If it decisively breaks through this range, it could initiate a rise to 141,000 dollars. Given the high expected unrealized profits at this price level, selling pressure may further increase in this area.