Bitcoin's market recovery is challenged as long-term holders persistently sell their assets, generating significant sell-side pressure. On-chain data shows daily realized profits soaring to $1.7 billion and revived supply from dormant wallets nearing $2.9 billion. Analysts confirm that while Bitcoin holds strong support around $108,700, resistance above $110,000 limits upward momentum. The current selling wave is attributed primarily to seasoned investors taking profits rather than market manipulation. Despite this, key market levels are holding, and the next few months will be pivotal for Bitcoin's price direction amid macroeconomic tensions and shifting investor sentiment.
Continue to read Bitcoin Faces Continued Selling Pressure as Long-Term Holders Cash Out Amid Market Uncertainty
Bitcoin's market recovery is challenged as long-term holders persistently sell their assets, generating significant sell-side pressure. On-chain data shows daily realized profits soaring to $1.7 billion and revived supply from dormant wallets nearing $2.9 billion. Analysts confirm that while Bitcoin holds strong support around $108,700, resistance above $110,000 limits upward momentum. The current selling wave is attributed primarily to seasoned investors taking profits rather than market manipulation. Despite this, key market levels are holding, and the next few months will be pivotal for Bitcoin's price direction amid macroeconomic tensions and shifting investor sentiment.
Continue to read Bitcoin Faces Continued Selling Pressure as Long-Term Holders Cash Out Amid Market Uncertainty
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