BlockTrends Research Director: $2.4 billion worth of Bitcoin held for less than half a year was transferred during the price drop

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ODAILY
07-04
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Odaily Odaily News According to data released by BlockTrends research director and on-chain analyst Cauê Oliveira, novice investors are capitulating and increasing selling pressure. Approximately $2.4 billion worth of Bitcoin (held within 3 to 6 months) was transferred during the price drop. This selling pressure came from entities that bought Bitcoin at the beginning of the year, probably investors who wanted to speculate through ETFs and halving. Although these entities can be classified as "long-term" holders, they behave more like short-term investors because they entered the market at the beginning of the year. On the other hand, entities that have held for more than a year have not yet shown a significant selling pattern, indicating that real long-term holders are still holding coins.

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