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Bitcoin short-term holders are finally chilling out.

After weeks of aggressive profit-taking near the $123K peak, new Glassnode data shows that spending activity from recent buyers has cooled off – a signal that the worst of the post-ATH dump might be behind us.

That’s a big deal. When short-term holders stop rushing for the exits, it gives long-term buyers room to accumulate without fighting constant sell pressure. In other words, the bull cycle gets to breathe again.

Profit-Taking Drops as Bitcoin Floats Around $115K

Glassnode’s latest report paints a calmer picture of the Bitcoin market. Short-Term Holder (STH) Spent Volume (a key metric that tracks how many recent buyers are selling) has dropped to 45%, sliding below the neutral 50% line.

That means fewer newcomers are cashing out, even as $BTC trades just under $115K.

On top of that, 70% of STH supply is still in profit, signaling that recent buyers haven’t been shaken out.

Glassnode called it a ‘relatively balanced position’ that aligns with the mid-phase of previous bull markets. In other words, it’s not euphoric, but far from bearish.

Onchain tracker Checkonchain backs this up. According to its SOPR analysis, many of the folks who bought near the $123K top are now capitulating at breakeven – classic weak-hand behavior. But that’s exactly what strong markets need: the exit of uncertain traders, replaced by conviction buyers.

Historically, STH capitulation clears the runway for upside continuation. With major voices like Tom Lee still eyeing a $250K target for 2025, this consolidation might just be the pit stop before the next leg. If $BTC holds its ground into Q4, the appetite for risk is only going to grow.

Meme Coin Appetite Grows When $BTC Stabilizes

When Bitcoin chills, meme coins cook. It’s a familiar pattern — once $BTC stabilizes, traders itching for bigger gains start rotating into high-risk, high-reward crypto plays. Meme coins sit at the top of that list, offering insane volatility with outsized upside.

We’ve seen this movie before. Back in May 2021, $DOGE hit $0.7376 as Bitcoin coasted near its then-ATH. Fast-forward to late 2024: as $BTC surged post-election, $DOGE nearly broke $0.50 again.

Around the same time, $PEPE exploded to an all-time high of $0.00002825 in December, all while Bitcoin rallied in the background.

That’s the opportunity in front of us now. With profit-taking easing off and Bitcoin holding firm above $110K, traders are already eyeing the next big crypto runner.

Maxi Doge ($MAXI), a satirical beast of a token built for the 1000x leverage era, positions itself as the natural successor to Dogecoin, but with more caffeine and fewer naps.

If the risk-on mood returns, $MAXI could be the first to benefit.

Maxi Doge ($MAXI): The Meme Coin Built for the Bull

Maxi Doge ($MAXI) isn’t just another Doge clone; it’s the final form. A satirical, ultra-degen meme coin built for the trader who dreams of candlesticks and maxes out leverage before breakfast.

Born in the gym and raised on caffeine, $MAXI captures the raw spirit of bull market insanity: no sleep, only pumps.

Built on Ethereum, $MAXI trades at just $0.000251 and has already raised over $440K in its presale.

For the true believers, staking offers a wild 593% APY.

Unlike some meme coins that awkwardly bolt on utility, $MAXI embraces its purpose: pure, unfiltered meme adrenaline. Its branding leans all the way in: 1000x trades, rage-fueled lifts, and enough testosterone to break TradingView.

But there’s more beneath the flex. 25% of the total supply is allocated to the MAXI Fund, reserved for future partnerships and marketing – with hints of a futures exchange collab where degens might one day trade $MAXI itself with 100x+ leverage.

Compared to $DOGE and $SHIB, which launched with nothing but vibes, $MAXI enters the arena with a fully-formed identity and roadmap. It’s not a meme, it’s a movement.

Final Form, Final Pump? Why $MAXI Could Be the Top Dog Meme Coin This Cycle

Bitcoin’s cooling profit-taking marks a shift: not into fear, but into calm. That’s bullish. When the selling slows and accumulation picks up, meme coins tend to ride the next wave of risk-on sentiment.

Maxi Doge ($MAXI) embodies the current cycle: full-degen, hyper-aware, and totally unbothered by fundamentals. Its launch hits right as market appetite rotates back toward high-volatility plays with greater potential upside.

Sure, it’s absurd. But that’s the point. In a market driven by vibes and volume, $MAXI might just be the one bench-pressing the others off the chart.

Always do your own research. Presales in crypto are high-risk, high-reward. Don’t invest more than you’re prepared to lose, and make sure to verify all presale links through official sources.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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Bitcoin maxi, FiatHawk criticized XRP investors, following a suggestion that the altcoin could rally to $10,000. This comes amid the recent drop below the psychological $3 level as part of the broader crypto market decline. 

XRP Holders Are “Truly Retarded”

In an X post, FiatHawk remarked that XRP is the crypto for the truly retarded. This came as he shared a message about a potential investor mentioning how they could invest $300 in the altcoin now and watch it grow exponentially as XRP rallies to $10,000, as experts have predicted. The investors added that this would amount to $1 million on the initial $300 investment. 

Following FiatHawk’s post, a crypto community member noted that a price tag of $10,000 would put XRP’s market cap at $593 trillion. They added that this is 191x Apple’s current market cap of $3 trillion. Meanwhile, a community member, Billiam, said that the statement about XRP hitting $10,000 can’t be real. The Bitcoin maxi then replied, saying that the altcoin’s current market cap confirms that the “world is full of retards.” 

Another community member said that XRP investors are not retarded but simply “cheap.” They further stated that these investors lost the chance to buy Bitcoin but wished they were invested in the flagship crypto. FiatHawk responded that Sats are cheap but XRP is “incredibly expensive and overvalued.”

Amid FiatHawk’s criticism, it is worth noting that several XRP community members have predicted that the altcoin could rally to $10,000 at some point. Edward Farina, Head of Social Adoption at XRP Healthcare, once proposed a scenario where the altcoin could reach this target if it replaces the SWIFT network, thanks to Ripple’s payment operations. 

Crypto analyst ‘Random Crypto Pal’ had also predicted that the XRP price could rally to $10,000. He declared that the altcoin’s market cap would no longer have limits once the Ripple and SEC lawsuit concludes. 

XRP Suffers Price Drop

The XRP price dropped below the psychological $3 level on August 1 as the crypto market crashed on the back of new Trump tariffs, which would take effect from August 7. Although the altcoin has reclaimed this psychological level, it looks likely to suffer further declines, especially with the current market uncertainty. 

In an X post, crypto analyst Ali Martinez said that the XRP price could find support around the $2.55 to $2.40 range. This was the major resistance that the altcoin first broke above before it recorded its rally to a new all-time high (ATH) of around $3.6 last month. Meanwhile, crypto analyst Egrag Crypto suggested that the altcoin could at least drop to $2.65 before it continues its next leg up. 

At the time of writing, the XRP price is trading at around $3, up in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.