Better

Bitcoin

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<p class="has-drop-cap">Bitcoin’s (<a href="https://tokenist.com/investing/how-to-invest-in-bitcoin/" rel="dofollow" class="deco-link">BTC</a>) meteoric rise hit turbulence this week as the cryptocurrency retreated from its all-time high, dropping more than 6% to $91,912 in early trading Tuesday. The decline comes after Bitcoin reached a <a href="https://tokenist.com/bitcoin-starts-the-week-with-new-ath-3-factors-why-the-rally-can-continue/" class="deco-link">historic peak</a> above $99,000 last week, marking its largest monthly price gain and bringing its year-to-date returns to 122%.</p> 
<h3 id="long-term-bitcoin-holders-booked-profits-as-price-approached-psychologically-important-100k">Long-term Bitcoin Holders Booked Profits as Price Approached Psychologically-Important $100k</h3> 
<p>On-chain data <a href="https://cryptoslate.com/insights/long-term-holders-take-profits-as-bitcoin-drops-to-93k/" target="_blank" aria-label="reveals (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">reveals</a> that long-term Bitcoin holders, not institutional investors, are driving the current selloff, with these veteran investors offloading approximately 128,000 BTC in recent days. <br><br>However, U.S.-based <a href="https://tokenist.com/investing/bitcoin-etf/" rel="dofollow" class="deco-link">spot Bitcoin ETFs</a> have absorbed about 90% of this selling pressure, demonstrating robust institutional demand. These ETFs recorded unprecedented weekly inflows of $3.38 billion between November 18-22, even as the broader market experienced significant liquidations totaling over $500 million during weekend trading.</p> 
<p>The recent correction has done little to dampen optimistic projections for Bitcoin’s future. The cryptocurrency has surged approximately 560% from its low two years ago, fueled by multiple catalysts, including a 46% rally following <a href="https://tokenist.com/trump-victory-sends-btc-soaring-anti-crypto-sec-chairman-set-to-resign/" rel="dofollow" class="deco-link">Donald Trump’s election victory</a> and increased institutional adoption. <br><br>The market’s strength is further underpinned by several key factors, including <a href="https://tokenist.com/crypto-stocks-surge-in-premarket-trading-after-spot-bitcoin-etf-approved/" class="deco-link">the SEC’s approval of spot Bitcoin ETFs</a> in February, an upcoming Bitcoin halving event in April, and expectations of favorable cryptocurrency policies under the incoming Trump administration.</p> 
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<h3 id="it-could-get-worse-before-it-gets-better">It Could Get Worse Before it Gets Better</h3> 
<p>Technical analysts suggest the current pullback could extend to the $80,000 level before finding support, though many still anticipate Bitcoin will breach the psychologically significant $100,000 mark before year’s end. Historical patterns indicate Bitcoin typically reaches fresh highs every four years, with each cycle historically seeing more than tenfold increases before significant corrections of 70-80%.</p> 
<p>The cryptocurrency continues to show robust market participation, with trading volumes exceeding $88.4 billion across more than 11,800 active markets. <br><br>With a market capitalization around $1.8 trillion and a circulating supply of 19.7 million BTC, Bitcoin remains the dominant force in cryptocurrency markets despite current price pressures.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/bitcoin-retreats-from-record-high-as-long-term-holders-take-profits-can-drop-to-80k/">Bitcoin Retreats from Record High as Long-term Holders Take Profits, Can Drop to $80k</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Bitcoin Retreats from Record High as Long-term Holders Take Profits, Can Drop to $80k

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