June 2025 — Global Markets
Bitcoin’s momentum is showing signs of stress this week as over 15,000 BTC—worth approximately $975 million—were sold at a loss by short-term holders, triggering renewed concerns about near-term price pressure.
According to on-chain data from Glassnode and CryptoQuant, wallets that had held Bitcoin for 30 days or less offloaded large positions in a wave of capitulation following Bitcoin’s rejection at the $110,000 resistance level.
🧠 What the On-Chain Data Shows
📊 Short-Term Holder Supply in Loss (STH-SOPR) surged past the 1.0 level
💼 More than 15,000 BTC sold below cost basis within 72 hours
📉 Spike in exchange inflows on Binance, Coinbase, and Kraken
💸 Whale wallets remained mostly inactive, suggesting panic selling was retail-driven
“This pattern is typical of emotional retail investors exiting after minor dips, usually before a major rebound,” said Lennart Jansen, an analyst at CryptoQuant.
🔄 Is This a Correction or Something Deeper?
Bitcoin is currently hovering around the $106,000–$107,000 range, after briefly touching $113,000 earlier this month. Analysts are now split on whether this is a healthy retracement or a signal that the market is due for a deeper pullback.
“We’re still in a broader uptrend,” said Katie Stockton, managing partner at Fairlead Strategies. “But this flush of short-term selling might need time to cool off before BTC reclaims higher highs.”
Support levels to watch:
$102,000 — Psychological and technical floor
$98,500 — 50-day moving average
$95,000 — Area of previous breakout consolidation
💡 Why Did They Sell?
Short-term investors may have been spooked by:
📉 U.S. Federal Reserve’s hawkish tone on inflation
🌐 Strengthening U.S. Dollar Index (DXY)
🗓️ Concerns about the upcoming Mt. Gox creditor BTC release
🧠 Herd behavior on social media following bearish sentiment
Despite the sell-off, fundamentals remain strong, with Bitcoin’s hashrate near all-time highs, ETF inflows still net positive, and institutional accumulation continuing under the surface.
🚨 Market Outlook
While short-term turbulence persists, long-term bulls remain confident. Institutional trading desks are reportedly buying the dip, and several macro signals—such as the upward-sloping 200-day moving average and strong RSI divergence—indicate a potential rebound.
“Retail is selling, but smart money is accumulating,” said James Lavish, CIO at Bitcoin Opportunity Fund. “This isn’t the end. It’s the beginning of the next leg up.”
As Bitcoin continues to evolve as both a speculative asset and a macro hedge, moments like these test conviction—but also offer opportunity.