Long-term Bitcoin holders took profits at record levels with realized gains hitting $1.7 billion daily as older coins re-entered circulation. The price of Bitcoin will have a challenging road ahead as long as long-term holders continue to take profits, according to analysts.The failure of crypto markets to recover was not due to manipulation, paper Bitcoin, or suppression, “just good old-fashioned sellers,” said analyst James Check on Sunday.Check added that the sheer volume of sell-side pressure from existing Bitcoin (BTC) holders is still not widely appreciated, and that it was “the source of resistance” at the moment. Read more Long-term Bitcoin holders took profits at record levels with realized gains hitting $1.7 billion daily as older coins re-entered circulation. The price of Bitcoin will have a challenging road ahead as long as long-term holders continue to take profits, according to analysts.The failure of crypto markets to recover was not due to manipulation, paper Bitcoin, or suppression, “just good old-fashioned sellers,” said analyst James Check on Sunday.Check added that the sheer volume of sell-side pressure from existing Bitcoin (BTC) holders is still not widely appreciated, and that it was “the source of resistance” at the moment. Read more
Bitcoin’s next rally will start once OGs finish selling: Analysts
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Long-term Bitcoin holders took profits at record levels with realized gains hitting $1.7 billion daily as older coins re-entered circulation.
The price of Bitcoin will have a challenging road ahead as long as long-term holders continue to take profits, according to analysts.
The failure of crypto markets to recover was not due to manipulation, paper Bitcoin, or suppression, “just good old-fashioned sellers,” said analyst James Check on Sunday.
Check added that the sheer volume of sell-side pressure from existing Bitcoin (BTC) holders is still not widely appreciated, and that it was “the source of resistance” at the moment.
Read more
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