Long-term holders of Bitcoin (BTC) are reportedly losing their confidence in the cryptocurrency. This sentiment is reflected in the rising selling pressure among these investors, causing concerns about an impending price drop.
The noticeable increase in asset sell-offs has sparked intense speculation about a potential Bitcoin flash crash. As per the on-chain data analysis provided by Glassnode, the price of Bitcoin has decreased to $92,000.
This development indicates a shift in the market dynamics, where previously patient holders are now offloading their investments, adding to the uncertainty surrounding Bitcoin's price movements in the near future.
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