The truth behind the decline is revealed, diamond hands are quietly selling
The new era of Bitcoin has arrived, institutional big shots are officially taking over
Bitcoin is about to break through the largest monthly K-line in history, just a little bit away from the 100,000 mark. But at this critical moment, Bitcoin suddenly plummeted by over 5,000 points, directly dropping below 93,000! Who is selling? Didn't everyone say that institutions like Bitcoin ETFs and MicroStrategy are offloading?
But Bloomberg's senior ETF analyst Eric Balchunas said that this decline is not the work of institutions or Bitcoin spot ETFs. Data shows that it is mainly those long-term Bitcoin holders who are selling!
Cryptocurrency trader and technical analyst Kyle du Plessis also analyzed that during this bull market, long-term holders sold 128,000 Bitcoins. Fortunately, the U.S. spot ETF absorbed 90% of the selling pressure.
Thanks to the strong demand from institutions, Bitcoin has been able to rise so quickly, heading straight for 100,000 dollars.
Now, the institutions and big players have taken away the chips from diamond hands or whales, and the situation for Bitcoin has drastically changed. Although speculative traders may be more active, Bitcoin's price will definitely continue to soar higher and higher. I predict that by 2025, Bitcoin will reach 200,000!
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