According to CryptoQuant data, Bitcoin’s miner reserves—measured with a seven-day moving average (7-day SMA)—rose by 0.05% from July 1 to July 22, reaching a peak of 1.808 million BTC. This metric tracks the total Bitcoin held in wallets linked to mining entities, reflecting their willingness to hold or sell.
The chart shows a steady climb in miner reserves early in July, aligning with Bitcoin’s price rally to its July 14 peak near $120K. This accumulation phase signaled strong bullish sentiment among miners, who appeared confident in further price gains and opted to hold their coins rather than sell.
However, since July 22, miner reserves have reversed direction. The decline coincides with Bitcoin’s consolidation phase, where price momentum stalled around $117.8K. This shift suggests miners are increasingly taking profits or hedging against near-term price risks, marking a pullback from their earlier bullish stance.
Because miners control a significant share of Bitcoin’s newly issued supply, their selling activity can influence market pressure. If reserves continue falling, it could intensify selling pressure into August and increase the likelihood of a price correction.
The chart also highlights the miner reserve’s downward slope against Bitcoin’s sideways trading pattern, reinforcing concerns that miner behavior may be contributing to weakening market sentiment.
Institutional Inflows Offset Miner Selling, Bolstering Bitcoin Price Stability
Institutional demand for Bitcoin continues to grow, evident in the steady inflows into BTC-backed ETFs. This trend has the potential to offset sell-side pressure from miners, supporting price stability through August.
According to data from SoSoValue, Bitcoin spot ETFs registered $237 million in net inflows this week, even as BTC traded mostly sideways around $117,525. The chart highlights consistent inflows since late June, with notable peaks on June 27 and July 11, both aligning with periods of heightened market activity.
Total net ETF assets have climbed to $152.71 billion, signaling sustained institutional accumulation. The correlation between inflows and price resilience suggests that institutional capital now exerts stronger influence on BTC’s market structure than miner behavior.
This aligns with Gadit’s assessment that institutional participation has become the dominant stabilizing force for Bitcoin. As miners reduce holdings and reserves trend downward, ETF inflows may cushion selling pressure, keeping BTC’s price steady in August.
Bitcoin Faces Key Price Gap as Realized Price Distribution Narrows
On July 30, 2025, market analyst Ali Martinez (@ali_charts) shared a chart from Glassnode highlighting Bitcoin’s UTXO Realized Price Distribution (URPD). The data shows significant clustering at $108,318 and $116,934, with a pronounced gap between $114,473 and $119,396. This gap represents a low on-chain activity zone where fewer coins have changed hands, suggesting limited support or resistance levels.
As of the tweet, Bitcoin traded near $117,525, positioned directly within this gap. The chart illustrates that over 702,809 BTC (3.53%) were acquired at $116,934, while 238,937 BTC (1.2%) were last moved around $108,318. This concentration indicates strong investor positioning near these realized price bands, framing them as critical support and resistance zones.
The presence of the gap implies that if Bitcoin maintains its hold above $116,934, upward momentum could extend rapidly toward $119,396. Conversely, a breakdown below this level might trigger a swift retest of lower clusters near $114,473.
Bitcoin Charts Signal Potential 13% Breakout from Falling Wedge Pattern
On July 31, 2025, the Bitcoin to United States Dollar (BTC/USD) four-hour chart created on TradingView shows a falling wedge pattern, which is a bullish technical formation where price consolidates between two downward-sloping trendlines that gradually converge, often leading to an upside breakout. The current price sits near $118,418, with the 50-period Exponential Moving Average (EMA) providing support at $118,060.
If this falling wedge confirms, Bitcoin could see a 13% rally next month, targeting approximately $134,106 from its current level. The Relative Strength Index (RSI) is at 52.86, indicating neutral momentum but leaving room for upward movement. Trading volume has remained steady during consolidation, aligning with typical falling wedge behavior before a breakout.
As price approaches the wedge’s upper boundary, maintaining support near the EMA strengthens the probability of an upward move. A breakout above the resistance trendline would likely trigger renewed buying interest and align with the broader bullish structure visible since mid-July. This setup, if validated, could set Bitcoin on a path toward testing the $134,000 zone in August.
Bitcoin MACD Shows Neutral Momentum With Signs of Potential Reversal
On July 31, 2025, the Bitcoin to United States Dollar (BTC/USD) chart created on TradingView displays the Moving Average Convergence Divergence (MACD) indicator, which tracks the relationship between two moving averages of price to identify momentum shifts. The current MACD line sits at 11, slightly above the signal line at -50, while the histogram remains close to neutral territory at -61, reflecting balanced market conditions with no strong directional bias.
Recent price action shows that the MACD histogram has transitioned from red to green multiple times in July, indicating alternating bullish and bearish phases. The last crossover between the MACD and signal lines occurred earlier this week, suggesting consolidation as momentum stabilizes. When the MACD line moves decisively above the signal line, it typically signals growing bullish strength, whereas a downward cross would point to renewed bearish momentum.
The flattening histogram and narrowing gap between the MACD and signal lines suggest that Bitcoin is approaching a momentum pivot point. A confirmed bullish crossover would align with the falling wedge breakout setup seen on the price chart, potentially supporting upward price movement in August.