Bitcoin has experienced a sharp decline in its price, dropping 7% from over $95,000 to $91,000 in less than 48 hours. This sudden downturn in the crypto market has raised questions about the activities of long-term holders who might be selling their assets.
Despite the significant drop in Bitcoin's value, the altcoin market has shown resilience. Tokens in this sector quickly bounced back to their prior trading levels, partly cushioning the overall impact of Bitcoin's decline.
This price movement in Bitcoin is notable, and analysts are actively seeking to determine if the sell-off by long-term holders is the primary cause. The swift changes highlight the volatile nature of the cryptocurrency markets.
