According to the analysis by Maartunn of CryptoQuant, since November 8, 2024, long-term Bitcoin investors (wallets holding BTC for at least 155 days) have sold a total of 827,783 BTC, equivalent to approximately $82.59 billion.
Despite the selling pressure, the market has recorded some positive movements:
- MicroStrategy increased its purchases: During the same period, MicroStrategy has bought an additional 149,800 BTC.
- Bitcoin ETFs: ETF funds have also attracted capital equivalent to 84,193 BTC.
However, the total BTC absorption volume only accounts for 30% of the BTC sold by long-term investors, indicating that the selling pressure is still significant. Despite the selling pressure, data from CryptoQuant shows that the demand from retail investors has reached its highest level of the year, helping Bitcoin maintain relatively strong market strength.
Maartunn emphasized that indicators such as the seller's risk ratio and the number of net takers are showing that Bitcoin may have reached its potential peak. This could signal that the market is about to undergo a short-term price adjustment.Over $82 Billion in BTC Sold by Long-Term Bitcoin Holders in the Last 30 Days
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According to the analysis by Maartunn of CryptoQuant, since November 8, 2024, long-term Bitcoin investors (wallets holding BTC for at least 155 days) have sold a total of 827,783 BTC, equivalent to approximately $82.59 billion.
According to the analysis by Maartunn of CryptoQuant, since November 8, 2024, long-term Bitcoin investors (wallets holding BTC for at least 155 days) have sold a total of 827,783 BTC, equivalent to approximately $82.59 billion.
Despite the selling pressure, the market has recorded some positive movements:
- MicroStrategy increased its purchases: During the same period, MicroStrategy has bought an additional 149,800 BTC.
- Bitcoin ETFs: ETF funds have also attracted capital equivalent to 84,193 BTC.
However, the total BTC absorption volume only accounts for 30% of the BTC sold by long-term investors, indicating that the selling pressure is still significant. Despite the selling pressure, data from CryptoQuant shows that the demand from retail investors has reached its highest level of the year, helping Bitcoin maintain relatively strong market strength.
Maartunn emphasized that indicators such as the seller's risk ratio and the number of net takers are showing that Bitcoin may have reached its potential peak. This could signal that the market is about to undergo a short-term price adjustment.
According to the analysis by Maartunn of CryptoQuant, since November 8, 2024, long-term Bitcoin investors (wallets holding BTC for at least 155 days) have sold a total of 827,783 BTC, equivalent to approximately $82.59 billion.
Despite the selling pressure, the market has recorded some positive movements:
- MicroStrategy increased its purchases: During the same period, MicroStrategy has bought an additional 149,800 BTC.
- Bitcoin ETFs: ETF funds have also attracted capital equivalent to 84,193 BTC.
However, the total BTC absorption volume only accounts for 30% of the BTC sold by long-term investors, indicating that the selling pressure is still significant. Despite the selling pressure, data from CryptoQuant shows that the demand from retail investors has reached its highest level of the year, helping Bitcoin maintain relatively strong market strength.
Maartunn emphasized that indicators such as the seller's risk ratio and the number of net takers are showing that Bitcoin may have reached its potential peak. This could signal that the market is about to undergo a short-term price adjustment.Sector:
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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