- Bitcoin holders are locking in over 10 percent profit per coin, triggering stronger selling pressure.
- Futures open interest hit $55.6B, showing rising leverage and trader speculation.
- GameStop invested $513M in Bitcoin, signaling a long-term crypto strategy shift.
Bitcoin’s relative unrealized profit is now higher than +2 SD, which is usually linked to previous market peaks. Such results hint that those who hold assets long-term are making profits and might begin selling soon. Historically, reaching this level has preceded corrections or consolidation phases.
During the same period, the open interest in Bitcoin futures climbed from $19 billion to $55.6 billion. The unexpected jump shows that big speculative plays drive trading, with traders using leverage to take risks. Significant market changes have followed similar readings, revealing that market participants are getting ready for greater movements.
Exchange volume dominance has also grown, with 33% of all on-chain volume flowing through centralized exchanges, indicating more users are transferring Bitcoin to sell or rebalance portfolios. The increase has been steady since early 2023, reflecting broader market participation as Bitcoin approaches key psychological price levels near $100,000.
Furthermore, the SOPR metric, which tracks average profit per coin sold, has also increased sharply. Gains of over 10% are being seen on every Bitcoin sold today. This level of profit-taking mirrors patterns from past cycles and introduces added selling pressure.
GameStop Confirms $513 Million Bitcoin Purchase.
GameStop has confirmed the purchase of 4,710 Bitcoin, valued at approximately $513 million. The acquisition was funded through a $1.3 billion offering of convertible senior notes. These notes are set to mature in 2030, indicating the company’s intention to hold Bitcoin as a long-term asset rather than engage in short-term trading.
In addition, May 28’s announcement lacked details about entry prices and the names of the remaining shares sold. However, the confirmation was noticed right away in other financial areas. According to Anthony Pompliano, GameStop’s new share purchase policy could draw the attention of many ordinary investors because of its history and presence.
However, reports about buying Bitcoin first appeared when GameStop described its asset plans for investors in documents from earlier in 2025. With this move, the company is one of many adopting Bitcoin as part of a trend toward using different sorts of funding for crypto investments.
Meanwhile, Reddit posts in 2021 powered a boom in trading GameStop at retail investment sites. The recent update revives public curiosity about the company’s strategies and puts it among the outstanding Bitcoin-holding firms in the next few years.
Technical Indicators Reflect Bearish Momentum
After hitting highs over $110,000, Bitcoin is trading near $107,356. Multiple daily candles show rejection from resistance levels, with no confirmed breakout attempts. The trend on the market is still towards heavy selling, mainly because major holders want to profit from their holdings.
The RSI has hit 26.67, showing that Bitcoin now belongs to the oversold group. Meanwhile, the MACD has now turned negative as the MACD line crosses beneath the signal line, showing the market is headed lower.
Furthermore, Fibonacci retracement levels show that Bitcoin has fallen past the 50% mark to $108,500. The current price is found near the 61.8% retracement zone at $107,500. A fall below this spot might bring Bitcoin to $104,100 and a deeper retreat might push the price down as low as $100,000.
