Analysis: After the sale of 80000 BTC Ancient Whales, 97% of the circulating supply is still profitable

According to BlockBeats news, on July 30th, Glassnode published an analysis article regarding the sale of "80000 BTC Ancient Whales" last weekend, stating that although the seller trading volume was as high as $9.6 billion, the market effectively digested the seller pressure, causing the price to fall to $115000, and then briefly stabilized at $119000, slightly below the historical high. Analysis suggests that even after this large-scale distribution event, market participants still hold a significant amount of unrealized profits. At present, the book income held exceeds $1.4 trillion, and 97% of the circulating supply is still profitable. According to multiple on chain valuation models, the price of Bitcoin is currently fluctuating between $105000 and $125000. If we decisively break through this range, it may initiate a rise of $141000. Given the expected unrealized profits at this price point, seller pressure may further increase in the region.