Long-Term Bitcoin (BTC) Holders Sold $10 Billion in BTC

These sales indicate a significant change in market dynamics. Historically, long-term holders tend to hold onto their holdings during market fluctuations, contributing to the overall stability of the #BTC price.

However, these owners' decision to liquidate such a large portion of their assets marks an emotional shift. In June, these sales slowed down and long-term holders sold an additional 40,000 BTC.

Although this figure is significantly lower than May's sales volume, it still shows an ongoing liquidation trend among long-term investors.

The cumulative effect of these sales contributed to the overall downward trend in the market. It has had a significant impact on the price of Bitcoin, with Bitcoin price dropping by 10.03% in the last 30 days. This reflects the market's reaction to increasing selling pressure. Currently, Bitcoin is trading at $61,343, a noticeable decline from its previous levels.

There may be various factors that influence long-term holders to liquidate their BTC. Given Bitcoin's significant appreciation over the past few years, long-term holders may be reaping the benefits. Many of these investors purchased #BTC at significantly lower prices, and current levels present an attractive opportunity to profit.

Broader economic trends such as interest rate changes, inflation concerns and geopolitical events can also influence investor behavior. Long-term conservatives may be reallocating their portfolios in response to these macroeconomic changes. However, the sustained selling wave by long-term holders raises questions about the future trajectory of #Bitcoin price.