Experts Elucidate Bitcoin’s Stagnant Growth

Sales pressure from long-term holders of the leading cryptocurrency is keeping its price near the $100,000 mark. However, this situation is poised to change soon, according to Charles Edwards, founder of Capriole Investments.

People are wondering why BTC has been stuck at $100K so long, despite the institutional FOMO. Despite what X news might suggest, it’s because Bitcoin OGs (long-term holders) have been dumping on Wall St since the ETF Launch in January 2024, unloading their positions.

In April… pic.twitter.com/0qYOiX2vqE

— Charles Edwards (@caprioleio) June 29, 2025

Since the launch of spot Bitcoin ETFs in January 2024, the category of LTH (those holding cryptocurrency for over two years) has been “cashing out on Wall Street” and “liquidating positions,” the expert noted.

The supply has been entirely absorbed by a rapidly growing group of companies forming treasuries in digital gold. Edwards estimates that this trend will intensify as more “Strategy imitators” enter the market.

Historically, aggressive purchases by investors holding assets for more than six months have been a bullish signal for Bitcoin in the short term. The question is whether companies with treasuries can maintain high accumulation rates, noted the Capriole founder.

“In the near term, we still need to overcome weakness in on-chain data, which overall could be better right now. If firms can continue their relentless buying, this should be achievable,” Edwards concluded.

Metaplanet Supports the Trend

Japanese company Metaplanet, dubbed the “Asian Strategy,” has additionally acquired 1,005 BTC for ~$108.1 million. The average price per coin was around $107,600.

Metaplanet has acquired 1,005 BTC for ~$108.1 million at ~$107,601 per bitcoin and has achieved BTC Yield of 348.8% YTD 2025. As of 6/30/2025, we hold 13,350 $BTC acquired for ~$1.31 billion at ~$97,832 per bitcoin. $MTPLF pic.twitter.com/TdHEEjF5af

— Simon Gerovich (@gerovich) June 30, 2025

With 13,350 BTC accumulated, the firm has risen to fifth place in terms of Bitcoin reserves among corporations.

Metaplanet has also issued zero-coupon bonds worth $208 million. The funds raised will be used, among other things, for further purchases of digital gold.

The co-founder of Strategy hinted at the company’s increase in Bitcoin reserves by publishing a chart of the corporate BTC portfolio tracker. Traditionally, this precedes the firm’s official announcement of another cryptocurrency acquisition.

In 21 years, you’ll wish you’d bought more. pic.twitter.com/s1I607RVda

— Michael Saylor (@saylor) June 29, 2025

“In 21 years, you’ll wish you’d bought more,” the entrepreneur wrote.

Since August 2020, Strategy has accumulated 592,345 BTC and is the undisputed leader in Bitcoin treasury volume among companies.

An Alternative View

In the X-account SightBringer, an alternative explanation was offered as to why massive corporate purchases of the leading cryptocurrency over the past six months have not significantly impacted the price.

They’re buying billions and the price isn’t moving because this isn’t a market anymore — it’s a controlled ignition chamber.

Here’s what’s really happening:
1. ETF flows are real. Sovereigns and institutions are accumulating cold BTC.
2. Exchange liquidity is fake. Most trading…

— SightBringer (@_The_Prophet__) June 27, 2025

“They’re buying billions and the price isn’t moving because this isn’t a market anymore — it’s a controlled ignition chamber,” the resource’s authors stated.

In their view, the cryptocurrency’s breakthrough is deliberately restrained by major players accumulating Bitcoin ahead of the next growth phase. Experts highlighted several features of the current situation:

• ETF flows are real. Sovereigns and institutions are accumulating BTC;
• exchange liquidity is fake. Most trading occurs on paper without actual asset movement;
• whales are discreetly liquidating old reserves. Early miners and OTC wallets are fueling demand, preventing price increases;
• BlackRock, Fidelity, and other macro fund operators suppress volatility, as stability is crucial for them.

“This is not about price action. It’s about positioning before reaching escape velocity. Once ignition occurs, the game is over. The real question isn’t ‘why isn’t the price moving?’ but who and why is ensuring it doesn’t happen,” they concluded.

As reported by CryptoQuant, Bitcoin is expected to rise to $160,000 following a phase of accumulation by long-term investors.