Overpiece Bitcoin Briefly hit the $81,000 level today, with realized net profits reaching $207.56 million, the highest monthly figure in the current cycle.
Who sells? ETF inflows and spot demand have absorbed the early selling pressure, but if long-term holders (155+ days) are the ones booking profits at the $80,000 level, market signals will change.
Earned Profit measures the total gains experienced when currencies move on-chain at a price higher than their initial purchase price. According to the data FeelingThe $207.56 million announced on Sunday represents the highest amount ever recorded for a month in the current session. This figure is by no means the highest on record, but it represents a record for the current session at a psychologically charged price level.
Coins purchased at almost $70,000 entered the profit zone once Bitcoin crossed the $80,000 mark and a portion of those holders were sold. She emphasized Feeling He noted that “high profits in a bull market may indicate that buyers took advantage of available supply,” while noting that Bitcoin “showed active demand moving by surpassing $80,000 as holders consolidated their gains.”
The Spent Output Profit Ratio (SOPR) tends toward levels historically associated with local peaks in previous cycles. When the SOPR reading reaches a major cyclical figure after a multi-month recovery rally, the historical pattern splits into two paths: in 2021, similar readings in resistance zones were preceded by a 20-30% pullback before ending the rise; By the end of 2023, these pressures were absorbed and the market rose within weeks.
Can Bitcoin support $80,000 and turn it into support?
The analyst emphasized Michael van de Poppe Bitcoin’s structure in lower timeframes remains consistent as long as the price remains above the $73,000-$75,000 range, but a price rejection near $80,000 is not a clear technical signal. The $81,000 level is the point where cycle-based models indicate higher risks.
He was warned João WoodsonCEO of the company Alpharactalpublicly stated that Bitcoin’s loss of momentum could open the door for a return to the $65,500 levels.
A weekly close above $81,000, with holding above as support during the first retest of the downside, would fundamentally alter the technical landscape. The upside target in this scenario is a liquidity pool between $86,000 and $89,000, where short-term holder supply becomes the next sticking point. Conversely, failing to stay above $80,700 makes the structure bearish and brings the $75,000 and $73,000 demand zones to the forefront. This is a working technical setup, but confirmation comes from staying above $81,000, not just surpassing it.
BTC ETF sinks to absorb long-term holder distribution
Ensures continuity MicroStrategy In the pooling policy, coupled with positive net flows towards the funds black rock AndLoyaltyA structural request which was not present during previous sessions. The Spot CVD indicator rose 199.1% over the week before hitting $81,000, showing high-conviction spot buying.
However, Bitcoin ETF inflows have shown signs of stagnating at zero net inflows since the October peak, and the distribution dynamics in the crypto market are becoming dangerous if this trend is not reversed. If the $207 million in gains represents the start of a sustained sell-off by long holders in the face of ETF demand, then flows must accelerate significantly to avoid price pressure.
The 30-day average flows of Bitcoin ETFs should be monitored over the next two weeks. A return to positive weekly net flows above $500 million will confirm that institutional absorption exceeds the long-term holder distribution.
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