On June 16, significant profits were realized by Bitcoin holders according to data from Glassnode. This article examines key market trends, including options metrics and whale activity.
Profit Realization by Bitcoin Holders
Bitcoin holders in the 6-12 month range realized $904 million in profits, accounting for 83% of total profits on that day. This marks the second-highest profit realization for this group in 2024, surpassed only by April figures. In contrast, holders with Bitcoin for more than 12 months realized $324 million, reflecting a sharp decline from the previous month's activity.
Bitcoin Options Market Trends
The options market also reflects changes in sentiment, with the 25 Delta Skew shifting towards downside risks. The 1-week skew increased from -2.6% to +10.1%, while the 1-month skew rose from -2.2% to +4.9%. These changes suggest a shift from risk-neutral to risk-averse behavior among market players.
Whale Activity on Binance
According to CryptoQuant analyst, whale inflows to Binance have nearly doubled over the last 30 days, while retail investor activity has remained low. This trend may indicate that institutional accounts are preparing for protective selling or opportunistic exits.
In summary, the Bitcoin market exhibits uncertainty, with declining activity from long-term holders and shifting sentiments in options. Additionally, increased whale inflows to platforms like Binance may facilitate strategic maneuvers in the marketplace.
