Long -term bitcoin Holders have increased their liquidations in recent weeks, adding to the lower market pressures.
Friday, these so-called patient holders discharged 97,000 BTC (nearly $ 3 billion)Marking the largest sale of long -term holders of a day, which explains the majority of the recent increase in the spending activity, according to the analysis company of the Glassnode blockchain.
The mobile average of the currencies spent of 14 days spent by long -term holders has increased to nearly 25,000 BTC, the highest since January.
Glassnode defines long -term holders like those who have history of possession of parts for more than 155 days.
The Bitcoin price dropped by more than 3.7% to $ 108,000 on Friday and continued to decrease to $ 107,400 early on Monday. At the time of writing, cryptocurrency was negotiated at $ 103,330, still down 16% compared to its record summit of $ 124,429, according to Coindesk data.
Note that the for -lucrative operation is even more slow than the points observed at the end of 2024.
What stimulates profit taking?
Long -term holders, including sleeping wallets for years, have been selling constantly since Bitcoin exceeded $ 100,000 at the start of this year. An explanation of this profit -shaped taking can be rooted in investors’ psychology.
Think about it this way: how many active ingredients in the world are negotiated at $ 100,000 per room? Maybe you can quickly count on your fingers. Therefore, it is logical for investors to think that $ 100,000 per BTC are too expensive, which encourages them to make profits.
It also means that the market will probably take time to adapt to $ 100,000 as a new BTC standard. We could continue to see a wide range exchange around the six -digit price bar for a while, allowing investors to acclimatize to this high assessment.
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