Yeliz Akmaca 
A notable consolidation phase is unfolding in the Bitcoin (BTC) market, with some investors taking profits during this period. In particular, BTC holders from certain age groups have recently realized significant gains, reflecting the market’s maturity.
Up until about a month ago, profit-taking on the Bitcoin network was moderate. However, this has changed. On-chain analytics provider Glassnode reported that profit-taking on the leading digital network has accelerated again. After weeks of upward movement, Bitcoin remains in a consolidation phase, trading below $110,000.
Profit-taking is ramping up on the #Bitcoin network again. Yesterday, $BTC realized profits hit $2.46B, while the 7D SMA climbed to $1.52B. That’s above the YTD average of $1.14B, but still well below the ~$4-5B peaks (7D SMA) seen in Nov–Dec 2024. pic.twitter.com/hGnQHyEI2c
— glassnode (@glassnode) July 1, 2025
According to Glassnode, realized profits in Bitcoin reached $2.46 billion on June 30. The network’s seven-day Simple Moving Average (SMA) rose to $1.52 billion. This metric, which averages prices over a specific period to identify trends, is currently above the year-to-date average of $1.14 billion. However, it still falls short of the $4.5 billion peak seen in November-December 2024.
Long-Term Bitcoin Investors Take Action
The rise in the seven-day SMA suggests increasing coin distribution on the network. Medium- and long-term BTC holders are leading this profit realization trend. Glassnode reports that holders in the three to five-year range have realized at least $849 million in profit. They are followed by holders in the seven to ten-year range, who realized $485 million in profit. Meanwhile, those holding BTC for one to two years gained $445 million.
Short-term holders (less than one year) cashed out the least, with realized profits under $6 million. Interestingly, older BTC holders have led the profit realization in this cycle. Spending activity among this group increased in late May, raising the total volume of one- to five-year holders to $4 billion—the highest since February. While these older investors lead the trend, the bulk of the volume still stems from this specific group of Bitcoin holders.
Profit-taking on the #Bitcoin network was driven mostly by mid- to long-term holders. $BTC aged 3–5y realized $849M, followed by 7–10y at $485M, and 1–2y at $445M. Short-term holders (<6m) played a much smaller role. pic.twitter.com/D1MYRJ1oI0
— glassnode (@glassnode) July 1, 2025
Whales Are Also Redistributing Their Bitcoin
Glassnode’s latest report is also backed by institutional DeFi analytics platform Sentora (formerly IntoTheBlock), which noted that wallets holding over 1,000 BTC have been steadily reducing their balances. This suggests that, despite institutional capital flowing into Bitcoin, whales are still offloading their holdings.
Sentora views this redistribution not as a sign of weakness but as a signal of a maturing market. The distribution of old whale coins could become a dynamic that strengthens Bitcoin’s long-term potential. As of this writing, BTC remains in a consolidation phase, with the price staying below $110,000 in recent weeks.
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