Is a Mid-Cycle Pivot Imminent?
The post Is a Mid-Cycle Pivot Imminent? appeared on BitcoinEthereumNews.com.
Bitcoin’s (BTC) rally hit a pause as prices slipped 4% from all-time highs, in a typical pullback during a bull market. Its on-chain signals are now flashing a possible market pivot as whales become active and dormant supply begins flowing again in July. Dormant Coins Flow, Whales Strike In its latest analysis, CryptoQuant revealed that Coin Days Destroyed (CDD) surged to 28 million this week, which indicates older Bitcoin previously held inactive is now being transferred. This pattern is historically tied to large holders repositioning near cycle midpoints or local tops. In addition to this, Net Realized Profit and Loss (NRPL) also spiked above $4 billion in realized profits, the highest since early Q2. Such a trend reflected significant profit-taking by whales and recent buyers while Bitcoin’s price hovers around $117,000-$120,000. The price action amid heavy realized profits suggests “resilient underlying demand or a delayed reaction.” Interestingly, this wave contrasts with late June, when NRPL data showed realized losses and modest profits. It hints at capitulation by late entrants while long-term holders accumulated quietly. The current environment flips this narrative: profits now dominate while older coins flow into the market, which aligns with Q3’s institutional rebalancing phase. It also indicates that these movements are strategic rather than random. Previously, simultaneous spikes in NRPL and CDD have preceded periods of volatility, including local tops, consolidations, or mid-cycle pauses, which means that whales and large players are coordinating activity. Whether this leads to further distribution or an extended rally will depend on follow-through in the coming weeks. But for now, whales are active, profits are being locked in, and dormant supply is re-entering circulation. CryptoQuant stated that the market may stand at a hidden inflection point, layered beneath the surface of stable Bitcoin price action. With whales active and dormant coins re-entering…
Filed under: News - @ July 16, 2025 12:29 pm