Retail Traders Show Confidence While Bitcoin Whales Step Back

At the same time, however, short-term holders—mostly retail—appear to be taking over the stage. They added about 382,000 BTC in early July. The surge reflects renewed enthusiasm, perhaps because they view the price drop as a surprise discount.

Long-term holders, on the other hand, chose to reduce exposure by about the same amount. They appear to be less inclined to follow the FOMO wave and prefer to play it safe.

Bitcoin Market Reacts to Option Expiry and Mysterious BTC Shift

Another signal is coming from the options market. CNF recently reported that $3 billion worth of BTC options contracts have expired, and analysts are predicting a potential correction as the max pain point is at $106,000. However, if the price is able to stay above $108,000, there is a possibility of re-targeting the $111,000 level.

Interestingly, this surge in retail activity also coincided with the release of US jobs and unemployment data. Many interpreted the data as a bullish signal for BTC. Perhaps they hoped that the central bank would be looser in its monetary policy or even predicted that economic uncertainty could actually fuel the price.

But it doesn‘t end there. Not long ago, 10,000 BTC that had been “sleeping” for 14 years were suddenly moved. Many immediately panicked, but analysts warned: don’t rush to judge it as a bearish signal. The context of the transaction is not yet completely clear, and it may not be for sale. Who knows, its just a wallet transfer？

At the time of writing, the price of BTC was around $108,283.40, down slightly by in the last 24 hours. Its daily trading volume reached $41.84 billion—still quite active, although not yet very lively.