Recent reports indicate a significant shift in behavior among long-term Bitcoin (BTC) holders. They are selling substantial portions of their assets as Bitcoin prices fall to $91,500. This price drop has triggered one of the most intense phases of profit-taking in the current market cycle.
On-chain specialist, Checkmate, has highlighted this period as a notable time of activity for long-term investors. The selling trend suggests a change in sentiment among these holders, who typically buy and hold for the long term.
This trend is causing ripples in the cryptocurrency market, signaling potential changes in market dynamics and investor strategies. The sell-off could be driven by various factors, including market volatility and profit realization.
