“BTC Momentum Slows Amid Selling from Long-Time Holders.”

Bitcoin Drops Below $117K as $3.5B in Profit-Taking Sparks Pullback

July 15, 2025

Bitcoin slipped from record highs Monday as long-term holders took profits and a thin price zone triggered a sharp 5–6% correction.

$3.5 Billion Realized in One Day

Bitcoin (BTC) fell from a peak of $123,000 to below $117,000, retreating after a strong weekend rally. On-chain data from Glassnode shows investors realized $3.5 billion in profits over 24 hours — one of the year’s largest single-day totals.

More than half of that came from long-term holders — defined as investors holding BTC for over 155 days — who accounted for 56% of the realized gains. Their selling pressure helped drive the pullback as traders moved to secure returns near all-time highs.

Supply Gap Creates Market Fragility

The price surge from $108,000 to $123,000 was so swift that little trading activity occurred between $110,000 and $116,000. This created a supply gap — a zone with limited historical buying — making the market more vulnerable to rapid swings.

This is reflected in Glassnode’s UTXO Realized Price Distribution (URPD), which maps where existing bitcoin was last transacted. The entity-adjusted version filters out internal movements and exchange-held coins, offering a clearer picture of real investor behavior. The result: very little BTC is currently held at prices between $110K and $116K, increasing downside risk if selling continues.

What’s Next for BTC?

Bitcoin’s pullback may be short-term, but the thin support below current levels could amplify volatility. With a large amount of profit already realized and key price bands underpopulated, any further sell pressure could accelerate declines.

Still, despite this correction, the broader trend remains intact. The recent rally and high participation from long-term holders show confidence in the market. Traders now look for signs of new support forming — or whether BTC needs to revisit lower ranges before resuming its uptrend.