Reasons Behind Bitcoin and the Market’s Continued Sharp Decline?
Bitcoin dropped to $95K as short-term investors took profits, dragging Altcoins into the red.
Bitcoin has plunged to $95,000, dragging down altcoins, painting the market in red.
According to data from IntoTheBlock, the “Addresses by Time of Holding” indicator – which tracks the activity of Bitcoin holders over a period of 30 to 365 days – has recorded a significant decrease over the past week. This is a group of short-term investors who have taken profits, contributing to the correction in Bitcoin prices this week.
In addition, another indicator, STH-NUPL, which measures the sentiment of investors holding Bitcoin for less than 155 days, also shows a worrying trend.
