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Bitcoin Absorbs $66B In Profit-Taking From Recent Buyers – New Demand Keeps Price Stable

Bitcoin Absorbs $66B In Profit-Taking From Recent Buyers – New Demand Keeps Price Stable

Sebastian Villafuerte
by Sebastian Villafuerte
3 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is once again at a critical juncture after reclaiming key levels above the $105,000 mark. Over the weekend, BTC experienced extreme volatility triggered by the US military’s strike on Iran’s nuclear facilities, sparking panic across global markets. However, yesterday’s announcement of a ceasefire between Israel and Iran brought relief, fueling a sharp recovery in Bitcoin’s price.

Related Reading: On-Chain Data Shows Bitcoin LTH Holding Firm Despite $98K Dip – Details

This week is expected to be decisive in determining Bitcoin’s short-term trajectory. While bulls have managed to regain control in the near term, uncertainty remains elevated due to global tensions and macroeconomic headwinds. On-chain data from CryptoQuant provides further insight into current market dynamics. Since mid-April, the Realized Cap of the 0–1 month age cohort has surged by $66 billion.

Despite this selling pressure, Bitcoin has held within a narrow range, suggesting that demand is strong enough to absorb recent profits. If bulls can build on current momentum, Bitcoin could be setting the stage for its next major move. All eyes are now on whether BTC can push beyond $109K to retest all-time highs.

Bitcoin Consolidates As Market Absorbs Profit-Taking Pressure

Bitcoin recently faced intense volatility, plunging to $98,000 before staging a sharp rebound above the $105,000 mark. This recovery comes amid growing concerns about a potential double top formation, which has fueled bearish sentiment among market participants. Despite this psychological pressure, on-chain data continues to show a resilient market structure with no major warning signs of an imminent collapse.

According to top analyst Axel Adler, since April 13, the Realized Cap of the 0–1 month age cohort has increased by $66 billion. This metric reflects significant profit-taking activity from short-term holders who entered positions during the rally. Approximately 720,000 BTC have been sold during this period, adding substantial supply pressure to the market.

Bitcoin Analysis of Investor Behavior | Source: Axel Adler on X
Bitcoin Analysis of Investor Behavior | Source: Axel Adler on X

However, what’s notable is how Bitcoin has managed to absorb this selling volume without collapsing. Prices have remained largely within a narrow consolidation range, suggesting that buyers are stepping in to match the outflow. This kind of accumulation often signals strength beneath the surface, even when price action appears uncertain.

The broader market is now watching closely to see whether Bitcoin can maintain momentum above $105K and push toward retesting the $109K–$112K resistance zone. Until then, consolidation remains the dominant trend, potentially a calm before the next major move.

Related Reading: Bitcoin Taker Sell Volume Surges On Price Breakdown – Market Shows Signs Of Oversold Bounce

BTC Tests Resistance After Reclaiming $105K

Bitcoin’s 4-hour chart shows a strong rebound from the $98,000 lows, with the price currently hovering around $105,300. This move follows a sharp surge in buying momentum that pushed BTC above the key $103,600 support-turned-resistance level. The reclaim of this level, combined with a decisive close above the 50 and 100-period moving averages, signals renewed bullish interest.

BTC testing key resistance | Source: BTCUSDT chart on TradingView
BTC testing key resistance | Source: BTCUSDT chart on TradingView

Volume has also spiked significantly during the latest bounce, indicating real market participation and not just a short squeeze. However, BTC is now approaching a major confluence zone between $105,500 and $106,000, where the 200-period moving average and a recent horizontal resistance zone converge. This range has acted as a rejection area several times in June, and price action here will determine if BTC can aim for the next resistance at $109,300.

Related Reading: Bitcoin Dominance Breaks Previous High As MidEast Conflict Escalates – Altcoins Under Pressure

Until BTC breaks above $106K with strong volume, the broader market structure remains neutral to slightly bullish. The higher low formed during the bounce from $98K gives bulls some confidence, but confirmation will come only if price consolidates above the 200-MA and pushes toward the May highs.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte

Sebastian Villafuerte

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

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