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Market Update: Long-Term $BTC Holders Initiate Massive Sell-Off

In a surprising turn of events, long-term Bitcoin holders have parted with approximately $10 billion worth of BTC in May 2024. This significant move involved the liquidation of around 160,000 BTC, marking a shift in the investment patterns of steadfast crypto investors.

Historically, these long-term holders have been the pillars of market stability, often weathering the storms of volatility. However, this recent sell-off suggests a change in market sentiment or a strategic portfolio realignment in response to broader economic factors.

Despite the sell-off slowing down in June, with about 40,000 BTC being sold, the trend of liquidation among long-term investors continues. The market has felt the impact, with Bitcoin's price experiencing a 10.03% drop over the past month, currently trading at $61,343.

As we navigate through these turbulent financial waters, one question remains: What does this mean for the future of Bitcoin?

Stay tuned for more updates.

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