Value

Bitcoin

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/long-term-investors-sell-significant-bitcoin-holdings-as-prices-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Long-Term Investors Sell Significant Bitcoin Holdings as Prices Drop</a> 
As Bitcoin (BTC) prices fell to $91,500, reports indicate that long-term investors are selling substantial amounts of BTC this month. Popular on-chain analyst Checkmate stated that this marks one of the heaviest profit-taking periods seen in the current market cycle.
<h2 id="volume-of-long-term-investors-sales">Volume of Long-Term Investors’ Sales</h2>
Checkmate mentioned in a statement on the social media platform X that long-term holders (LTH) released $60 billion worth of BTC into the market over the past month. He noted that since the FTX collapse, 21% of the supply under LTH has occurred in November.
<blockquote>
 “Long-term Bitcoin investors distributed $60 billion worth of supply in the last 30 days. We are experiencing the most intense profit-taking period in the current cycle.”
</blockquote>
The analyst also discussed three main criteria that could indicate a potential bear market following Bitcoin’s correction.
<blockquote>
 “Bear markets emerge when many people buy a lot of coins at very high prices. For instance, if MicroStrategy’s CEO Michael Saylor were the main buyer, the ‘many people’ criterion would not be met.”
</blockquote>
<h2 id="bitcoin-s-property-as-a-store-of-value">Bitcoin’s Property as a Store of Value</h2>
Despite the sell-offs, Checkmate indicated that Bitcoin is increasingly being adopted as a store of value, similar to gold.
<blockquote>
 “I believe Bitcoin is special and plays a significant role in portfolios. We see more and smarter investors understanding the system, and Bitcoin competing with gold.”
</blockquote>
Currently trading at $94,700, market participants continue to assess Bitcoin’s long-term potential, pondering how the recent wave of selling might influence future price movements.
This significant profit realization in the Bitcoin market may prompt investors to reevaluate their strategies. For long-term holders, market fluctuations initiate a critical assessment process in portfolio management.
Bitcoin’s role as a store of value continues to attract more investors during times of economic uncertainty, strengthening its foothold among traditional financial instruments.
The post <a href="https://en.coin-turk.com/long-term-investors-sell-significant-bitcoin-holdings-as-prices-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Long-Term Investors Sell Significant Bitcoin Holdings as Prices Drop</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Long-Term Investors Sell Significant Bitcoin Holdings as Prices Drop

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