Long-term holders of #Bitcoin frequently sell #BTC during each price increase 📊
When liquidity reaches its maximum level, it is also the easiest time to sell without significantly affecting the price line. The chart above shows the amount 💸 held (from 6 million USD and above) that is being transferred to new addresses on the chain. Most of this activity is selling, with a small portion being internal transfers.
Since the bottom of 2022, we have witnessed 3 major sell-off phases, each followed by a long sideways period, setting the stage for another price increase of Bitcoin. 💯
BTC
89,977.16
-1.53%