📢 Heads up, BTC enthusiasts! Last week saw a significant shift in the crypto market, with Bitcoin (BTC) shedding over 6% of its value, and U.S. spot Bitcoin ETFs breaking their 20-day inflow streak. 😱

According to Bitfinex Alpha, the plunge was primarily driven by selling from long-term holders, whales, and miners. These big players have been gradually selling off their holdings, especially during bull cycles and market consolidation phases. 🐳

The Hodler Net Position Change metric, which tracks long-term bitcoin investors’ position changes, has been consistently negative for the past nine days. This indicates that the selling pressure is mounting. 😰

Whales have also been active, depositing large quantities of BTC on trading platforms, most likely in preparation for sale. While the selling scale is smaller than what we saw in April, it underscores the influence of long-term holders and whales on BTC market dynamics. 📉

In addition, miner BTC reserves fell sharply last week. Bitfinex suggests that miners were selling off their reserves to capitalize on high prices and prepare for the Bitcoin halving. This has led to miner reserves falling to four-year lows. ⛏️

In summary, the actions of these big players can significantly impact liquidity and price movements. So, keep an eye on the market, folks! 🧐📊