Bitcoin Market Top- Bitcoin Nears $100K, But Long-Term Sellers Raise Red Flags
Bitcoin Market Top– As Bitcoin (BTC) approaches the $100,000 mark, long-term holders have started to offload significant amounts of the cryptocurrency, prompting some analysts to warn that the market may be reaching a potential top. This shift in market behavior could lead to bearish conditions and catch traders off guard when buy-side demand begins to diminish.
Long-Term Bitcoin Holders Begin Selling Off
Since November 8, long-term Bitcoin holders—those with coins held for at least 155 days—have sold approximately 827,783 BTC, valued at around $82.6 billion at Bitcoin’s current price of approximately $99,200. This surge in selling activity has raised alarms for some market watchers, particularly when compared to the 149,800 BTC purchased by Michael Saylor’s MicroStrategy and the 84,193 BTC inflows into spot Bitcoin exchange-traded funds (ETFs) over the same period.
CryptoQuant contributor Maartuun highlighted that these purchases represent just 30% of the Bitcoin being sold by long-term holders, suggesting that the overall market activity is far larger than these institutional movements. He noted that while the selling pressure from long-term holders is strong, Bitcoin has managed to maintain its upward momentum due to strong retail demand, which has also reached yearly highs.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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