BTC Unfazed by Billion Dollar Sale

Bitcoin

28/07/2025

A record notional BTC sale
The prospects of an August sell-off
Potential for an AI comeback

Gap grows between Bitcoin and altcoins.

Satoshi era Bitcoin wallets have been busy moving sats over the past few months, and some Bitcoiners’ worst fears were confirmed last week. Long-term BTC investors are selling in volume. However, the market has been able to handle it, despite seasonal conditions.

Trade volumes, aggregated across venues, have trended lower since the beginning of the year. In fact, trade volumes have failed to reach post-election highs despite prices trading well below Q4 2024 levels.

Essentially the current set up suggests there is little retail demand in the market right now. However, the strong liquidity profile, matched with the market’s ability to handle large orders and growing demand from treasury companies, indicates the presence of sophisticated traders. These traders are more price agnostic, which should bode well for BTC’s price action heading into what can be a choppy month.

Read more on the likelihood of a pullback in August and how options markets are pricing risk in our premium debrief now.

Data Used In This Analysis

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