Following his examination of the chart, Darkfost revealed that the heavy selling of old BTC largely spearheaded the spike in realized profits. This selling spree among the cohorts has recently taken over the headlines in the community. Specifically, these sales, which started around July 14 and 15, provide a clear explanation for the 7-DMA profit jump observed on the chart.
Regardless of whether these movements indicate profit-taking, strategic repositioning, or readiness for more significant market shifts, the activities of these seasoned holders typically occur prior to notable turning points in Bitcoin’s price cycles.
