Bitcoin's $92K Price Correction Triggered by Long-Term Hodlers!

Bitcoin's recent price drop has been attributed to long-term holders, rather than institutional investors. Bitcoin (BTC) price fell over 5.6% in the past 24 hours to trade at $92,774.

However, it wasn't institutional investors or exchange-traded funds (ETFs) that triggered Bitcoin's price decline. According to Eric Balchunas, a senior ETF analyst at Bloomberg, long-term holders, also known as hodlers, were responsible for the price drop.

Balchunas wrote in a Nov. 25 X post: "I see a lot of CT baffled/frustrated as to how Saylor can buy $5b of BTC but price doesn’t move up... Here’s data showing what I’ve long been saying: the call is coming from inside the house, it’s long-term hodlers."

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