Bitcoin Whales Dump 29,400 BTC at a Loss — But Ana
Bitcoin Whales Dump 29,400 BTC at a Loss — But Analysts Say Stay Calm
Short-term Bitcoin holders offloaded 29,400 BTC at a loss while long-term holders sold 815,000 BTC in a month, though analysts see normal bull-market profit-taking rather than coordinated selling.
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Short-term Bitcoin holders just offloaded 29,400 BTC to exchanges at a loss, sparking fresh concerns about market pressure as the cryptocurrency hovers near critical support levels.
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The sell-off occurs amid heightened distribution from long-term holders, who have sold approximately 815,000 BTC over the past month, the highest level since January 2024, while overall market conditions remain bearish, with Bitcoin testing its 365-day moving average at $102,000.
Despite the concerning headlines, analysts are urging investors to maintain perspective.
Glassnode data reveals that profit-taking by long-term holders has climbed from roughly 12,500 BTC daily in early July to 26,500 BTC daily currently, representing normal bull-market behavior rather than a coordinated exodus.
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