Key Takeaways

Bitcoin saw over $421 million in long-dormant coins move in July. Even as miners added sell pressure, BTC’s structure remained intact. $117K is now acting as a critical resistance level.

Bitcoin [BTC] never fails to keep traders on their toes.

July was no exception, with a sudden spike in Coin Days Destroyed (CCD) indicating that long-dormant coins (worth over $421 million) finally decided to stretch their legs.

Profit-takers were quick on the draw, confirmed by a jump in SOPR to 1.17.

Yet, despite miners adding extra weight to the sell-side in two clear waves, the market didn’t flinch.

Old coins on the move, but no panic in sight

In July 2025, over $421 million worth of dormant Bitcoin was moved, pushing CCD sharply higher.

Normally, that kind of activity brings questions about LTHs rushing to exit near a market top. But the data told a different story — this is profit taking!