The new, greatest Bitcoin rally ever, over $123,000, sparked a wave of profitability. Some of the market’s biggest players, including miners and long-term whales, led the charges, according to Cryptoquant.
On July 15, Bitcoin Miner moved over 16,000 BTC into exchanges, making it the largest off-roader for the day since moving 17,000 BTC on April 7.
Bitcoin Miner Offloads 16,000 BTC with the biggest sale since April
The activity has caused miners to drop from 68,000 BTC to a one-month low of 65,000 BTC, according to data from Cryptoquant.
“All Bitcoin has been transferred to exchanges, reinforcing the view that Bitcoin was sold by miners, who have reached a recent history high,” Cryptoquant said.
Meanwhile, sales pressure was not limited to miners as other cohorts also sought to benefit from market highs.
Cryptoquant reported that the total exchange inflow, which rose sharply from just 19,000 BTC a few days ago, had skyrocketed to 81,000 BTC. This spike was driven largely by whales, and its exchange transfer jumped from 13,000 BTC to 58,000 BTC.
In particular, one of the outstanding transactions of the day was a rare move from the atoshi-era whales, which have been dormant since the early days of Bitcoin. The wallet originally held over 80,000 BTC.
Blockchain analytics firm LookonChain has flagged the transfer as potentially sold out. It suggested that long-term holders may be seizing the moment when they lock up profits.
Naturally, the massive sales of the day were translated into one of the biggest profitable events of 2025.
Realised profits have skyrocketed to $3.5 billion, with long-term holders accounting for 56% of that total, or $1.96 billion, according to GlassNode. The short-term holders have realized a profit of $1.54 billion.
Realized profit is a chain metric that tracks the value of coins sold at a higher price than the last recorded transaction. Provides insight into investor behavior during volatile periods.
These heavy trading behaviors, Bitcoin prices cooled to around $118,229 at press timeaccording to beincrypto data.
Still, market observers are optimistic about the potential future price of Bitcoin. They highlight recent custody competitions in the United States as an important driver of emotions. Moreover, the growing institutional interest around the world suggests there is even more room for benefits.
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