Panic Hits Crypto: OG Whales Dump $41B in Bitcoin — Is $70K Next?
Long-term Bitcoin holders have liquidated $41.6 billion in assets amid a sharp decline that pushed the cryptocurrency below $100,000 for the first time since June.
Miners are reporting record-low profitability while AI-trade correlation concerns add to market uncertainty.
Bitcoin Decline Accelerates as Long-Term Holders Exit PositionsBitcoin’s recent price action has triggered significant selling among long-term holders. In recent sessions, they have offloaded $41.6 billion worth of BTC. The exodus marks one of the largest divestment periods from seasoned investors.
These players are historically viewed as the market’s strongest hands. The cryptocurrency declined over 20% from its October record high above $126,000. Ancient Bitcoin wallets have contributed to downward pressure by selling over $1 billion USD, according to crypto analyst PeeCowYay, who cited this among “significant reasons to support this dip.”
And Blue was hoping for a retest of 114300k resistance with a soft fluff into 115k by the end of this week
I guess I'm allowed to be wrong once in 5 years
From Sunday till today there has been significant reasons to support this dip
*Longest government shutdown in history…