2024

Bitcoin

Billion

<p>Recent data provided by <a href="https://www.intotheblock.com/" target="_blank" rel="noopener noreferrer nofollow">IntoTheBlock</a> highlights a notable trend: significant reductions in Bitcoin holdings by long-term investors throughout 2024. Traditionally, the actions of these seasoned holders have served as a critical indicator of market confidence and potential future price movements.</p>
<p>May 2024 marked a particularly striking point, with approximately 160,000 BTC, valued at roughly $10 billion, being liquidated. This marked the largest monthly sell-off of the year, indicating a shift in the long-term holders’ sentiment towards the cryptocurrency.&nbsp;</p>
<p>Following this substantial outflow, June witnessed a comparative slowdown in selling activities, with ‘only’ 40,000 BTC leaving these wallets. Such data points are crucial as they suggest a cooling-off period after a significant market exit, which could influence the asset’s price volatility and investor confidence.</p>
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   <p lang="en" dir="ltr">Long-term BTC holders have been reducing their holdings throughout 2024. <br><br>May saw a significant drop with 160k BTC (~$10B) sold. The selling slowed down somewhat in June, with 40k <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> Leaving long-term holders' wallets <a href="https://t.co/POtniNrU4p" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/POtniNrU4p</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1806661376271643092?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 28, 2024</a>
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<h2 class="wp-block-heading" id="current-market-dynamics-and-price-performance">Current Market Dynamics and Price Performance</h2>
<p>Despite the substantial sell-off, <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a>‘s market price has shown resilience though it continues to experience moderate fluctuations. As of the latest updates, Bitcoin’s trading price stands at $61,297, reflecting a decrease of 1.7% on the day, and an overall decline of about 4% over the past week. This current valuation follows a short-lived peak, where Bitcoin reached $62,314 within the same 24-hour period.</p>
<p>The recent movements in Bitcoin’s price and the sell-off trends among long-term holders suggest a more cautious approach is being adopted by some market participants. These dynamics underscore the balance between maintaining long-term investment in Bitcoin and securing profits or minimizing losses in response to market shifts.&nbsp;</p>

Bitcoin Holders Hit Sell Button: $10 Billion BTC Dumped in May Alone

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BlockchainReporter

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