Will there be another sell-off in the short term?

Despite the rebound, Bitcoin has failed to maintain the positive tone it had at the beginning of the year, and in recent weeks, specific factors have further brought resistance to the price of digital assets, ending the first half of the year in a downturn.

BTC also decoupled from the US stock market in June as long-term holders resumed selling and oversupply took a toll on the market.

The policy environment has led to a decrease in volatility, which has affected the price of Bitcoin. BTC has struggled to maintain its upward momentum and decoupled from the US stock market, while long-term Bitcoin holders who paused selling in early May have returned. Although the reduction in selling by mining companies indicates that the market has stabilized, the continued cashing out of long-term holders means that the near-term outlook is fragile.

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At the same time, oversupply continues to weigh on the market, and Mt. Gox may sell Bitcoin, and potential selling pressure exists.

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