Analyst: Gradual selling by long-term holders indicates that Bitcoin may enter a consolidation phase
Analysts say the Bitcoin market may be entering a consolidation phase characterized by gradual selling by long-term holders. Bitfinex analysts say that long-term Bitcoin holders and large investors appear to be the driving force behind recent Bitcoin sales, both on exchanges and through over-the-counter trades. Historically, long-term holders tend to gradually sell their Bitcoin holdings during bull markets, especially when the market enters a consolidation phase - as we are currently seeing. Analysts focus on the Bitfinex Hodler net position change indicator, which shows that large holders have been in a negative position for the past nine days. Bitfinex analysts add that as large holders' net positions change, the whale ratio on Bitcoin exchanges continues to rise, as more and more whales deposit balances on exchanges. These two entities have more Bitcoin than exchange-traded funds, which obviously puts pressure on the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AAVEUSD ,OPUSD now launched for futures trading and trading bots
WIFUSD now launched for futures trading and trading bots
Best Crypto Presale to Buy: Troller Cat Up 319.8%, One Day to 35% Hike as Simon’s Cat, and Pudgy Penguins Falter
Troller Cat surges in presale Stage 8 with over 2429% projected ROI. Compare it with Simon's Cat and Pudgy Penguins in this crypto showdown.Troller Cat ($TCAT): The Cosmic Troll Revolution BeginsSimon’s Cat ($CAT): Recent Dip Raises QuestionsPudgy Penguins ($PENGU): Losing Heat After a Hot StreakConclusion

[Exclusive for New Users] Grow Your BGB with 50% APR!
![[Exclusive for New Users] Grow Your BGB with 50% APR!](https://img.bgstatic.com/multiLang/web/bc68ff0f6640fa805d9a39bacc68701a.png)
Trending news
MoreCrypto prices
More








