📉 Massive $BTC sell.



Over 24 hours on August 5, BTC holders recorded over $1 billion in profits. More than a third of this came from addresses that are between 7 and 10 years old, which held the asset for a very long time ($362 million).

$93 million came from addresses between 1 and 2 years old, with the rest coming from newer wallets. We are seeing a mass profit-taking by private investors in favor of corporations and institutional investors.

Logically, the cycle is coming to an end, and fixing BTC now is not the worst idea, even if it then reaches 130-140, which will be the peak before the start of the next cycle. 
BTC3.38%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)