Bitcoin faces sell-side pressure as long-term holders sell 815K BTC in 30 days
Long-term Bitcoin holders sold 815,000 BTC in the past month, increasing sell-side pressure and causing a price decline. The sell-off created a supply-demand imbalance, with selling activity outpacing buyer interest, including institutional investors. Weakened overall demand is stalling Bitcoin's upward momentum.
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Bitcoin Sell-Off by Long-Term Holders
Long-term Bitcoin holders have sold 815,000 BTC over the past month, contributing to significant sell-side pressure. This activity has directly impacted the price of Bitcoin, resulting in a noticeable decline.
Imbalance Between Supply and Demand
The large-scale sell-off by veteran investors has created supply-demand imbalances. With market demand remaining subdued, the increased supply in the market has continued pressuring Bitcoin prices downward.
On-Chain Indicators Highlight the Trend
According to on-chain indicators, long-term holders are increasing market supply at a rate that surpasses the current level of buyer interest. This aggressive selling activity has contributed to Bitcoin's ongoing price instability.
Role of Institutional Buyers
Institutional buyers have absorbed some of the BTC being sold by long-term holders. However, overall market demand remains weak, limiting the effectiveness of these purchases in reversing the bearish momentum.
Impact on Upward Momentum
With selling volumes exceeding inflows from exchange-traded funds (ETFs) and major accumulators, Bitcoin's upward momentum has been significantly stalled. This imbalance reveals the ongoing struggle between selling pressure and demand recovery.