“Long-Term Bitcoin (BTC) Holders Have Steped Up Their Liquidations in Recent Weeks, Adding to Bearish Pressures in the Market.”, – WRITE: www.coindesk.com
On Friday, These So-Called Patient Holders Offloaded 97,000 BTC (Nearly $ 3 Billion), Marking The Largest Single-Day Long-Term Holder Sell-Off of The Year, Which Accounted. Activity, accounting to Blockchain Analytics Firm Glassnode.
The 14-Day Moving AVERAGE OF COINS SPENT BY Long-Term Holders Has Jumped to Nearly 25,000 BTC, The Highest Since January.
Glassnode DEFINES Long-Term Holders As Those with A History of Owning Coins for Over 155 Days.
BTC’s Volume Spnt On Long-Term Holders. (Glassnode)
Bitcoin’s Price Fell by Over 3.7% to $ 108,000 On Friday and Continued to Deckline to $ 107.400 Early Monday. As of the Time of Writing, The Cryptocurrency Was Trading AT $ 103.330, Still Down 16% from ITS Record High of High of $ 124.429, Accounting To Coindesk Data.
Note That Profit-Taking Operation Is Still Notable Slower than the Spikes Observed in Late 2024.
What’s Driving The Profit-Taking?Long-Term Holders, Including Wallets That Have Been Dormant for Years, Have Been Consistently Selling Since Bitcoin Broke Above $ 100,000 Early This Year. One Explanation for This Profit-Taking Can Be Rooted in Invistor Psychology.
THINK OF IT this WAY: How Many Assets in the World Trade at $ 100k per Piece? Perhaps Very Few That You Can Can Quickly Count on Your Fingers. Therefore, it is logical for investors to feel that $ 100,000 per btc is too expensive, Prompting them to take Profits.
It Also Means that Market Will Likely Take Time to Adjust to $ 100k As The New Normal for Btc. We Could Continue to See Broad Range Trading AROUND The SIX-FIGURE PRICE MARK for some TIME, ALLOWING INVESTORS TO ACCLIMATIZE TO THIS ELEVATED VALULATION.
Read More: ‘Op_cat Isn’s Invention. I Satoshi’s, ‘Says Bruce Liu As Opcat_Labs Pushes to Reboot Bitcoin’s Code
The Trump-Linked Defi Project Proses Using All Liquidity Fees to Permanently Reduce Supple, As Steep Early Losses Highlight Investor Skepticism.
- World Liberty Financial Proposes a Buack-Even-Burn Program to Boost Confidentnce After A Challenging Market Debut.
- The Program to Reduce Token Supple by Using Liquidity Fees to Purchase and Burn Wlfi Tokens.
- A Separate Community Proposal Suggests Auto-Staking Locked Tokens, But It Has Not Gained As Much Support As the Burn Initiative.
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