- Long-term Bitcoin holders cash out, locking in profits amid rising uncertainty.
- New investors, particularly via Bitcoin ETFs, play a crucial role in absorbing the increased supply.
As a seasoned observer of the crypto markets with over a decade of experience under my belt, I’ve seen it all – from the dizzying heights to the crushing depths and everything in between. The current situation with Bitcoin is an interesting one.
With Bitcoin’s [BTC] price surge showing no signs of slowing down, long-term investors are taking advantage by selling off their holdings. They are now enjoying returns of around 326%, having initially purchased at an average price of roughly $23,400.
The significant increase in profit-making activities has led to an increased demand for selling, putting pressure on the market. However, Bitcoin has shown extraordinary strength by withstanding and accommodating the increased offerings of supply.
Why are Long-Term Holders (LTHs) choosing to sell at this time, and how are fresh investors helping maintain the market’s continued rise?
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2024-12-11 07:03