Bitcoin (BTC) holders are not selling despite falling prices: Check out the Analysis!

Jakarta, Pintu News – The latest on-chain data shows that Bitcoin investors who bought at the peak of the price are choosing not to sell their assets despite the recent price drop. Analysis from analytics firm Glassnode revealed that most of the Bitcoin (BTC) supply is still held firmly above the $118,000 price, indicating that these investors are still optimistic or waiting for the right time to profit.

Bitcoin (BTC) Base Fee Distribution

The Base Cost Distribution Heatmap released by Glassnode provides an overview of how much Bitcoin (BTC) supply is being purchased at various price levels. This concept of base cost of supply is very important in on-chain analysis because often investor behavior becomes clearer when crypto prices are near or at their acquisition level.

When the market is bullish, profit-making investors may see a price drop to their cost base as an opportunity to buy on the “dip”. This can form price support under a concentration of supply.

Also Read: Top 3 Crypto that Grew Up to 120% in the First Week of August, Got Your Token?

Heatmap Analysis and Investor Behavior

Based on a chart shared by Glassnode, it appears that an “airgap” formed as a result of Bitcoin’s (BTC) price surge to a new record high last month. This gap was created when Bitcoin (BTC) surged past certain levels too quickly for supply to change hands, leaving a range without a solid base cost center. Now, with the price of Bitcoin (BTC) having dropped, this area is starting to fill up again, which suggests that investors may be interested in buying at these levels, which could help form a support cluster.

Price Behavior and Market Reaction

Despite panic selling from some investors who bought in the $118,000 to $120,000 range, a large number still chose to hold on. This shows confidence in the long-term value of Bitcoin (BTC) or a wait-and-see strategy to see how the market develops.

With Bitcoin (BTC) currently trading around $114,200, down 4% in the last seven days, it will be interesting to see how this “airgap” will develop and whether buyers at the top will continue to hold their positions.

Conclusion: Bitcoin’s (BTC) Future Prospects

With the current market dynamics and investor behavior tending to hold back on selling, the future of Bitcoin (BTC) is still full of uncertainties but also opportunities. In-depth analysis such as that provided by Glassnode helps to understand the critical levels that may influence investors’ decisions in the future.

Also Read: Are These 3 Altcoins Likely to Print All-Time High in August 2025?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Top Buyers Selling $118,000 Remains Firm. Accessed on August 6, 2025