Bitcoin Long-Term Holders Unleash $BTC Selling Pressure: Are We Nearing a Bottom? 📉
Technical Evidence
According to Glassnode, long-term $BTC holders have net sold approximately 143,000 BTC in the last 30 days, the most accelerated divestment pace in five months.
The 200-day moving average, which previously offered support, is now showing signs of weakening, indicating potential for further price declines.
Declining retail trading volumes, reduced institutional inflows, and increased selling volume signal a significant reduction in buyer conviction for $BTC.
The Trading Blueprint
🟢 Support/Entry Zone: $60,000, $55,000
🔴 Target Resistance: $70,000, $73,000
⚖️ Market Bias: Short
The accelerated and synchronized selling by long-term holders, who typically accumulate during downturns, represents a significant departure from established behavior and historically signals potential market tops or extended corrections.
With long-term $BTC holders capitulating, are you looking for short opportunities or waiting for a clearer accumulation signal? Share your strategy! 👇
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