#ThanksgivingBTCMoves Long-term bitcoin holders sold more than 728,000 BTC in a month

Over the past 30 days, long-term bitcoin holders have sold more than 728,000 coins worth about $67 billion at the current price of the flagship asset, according to data from analytics firm CryptoQuant.

This is the largest sell-off since April 2024,” the company wrote in a social media post.

In addition, CryptoQuant analysts noted a turning point in the sentiment of large investors, who bought up about 250,000 bitcoins in October.

Experts attribute the large-scale sell-off to Donald Trump's victory in the US presidential election. During his election campaign, the Republican candidate actively supported the cryptocurrency industry, promising to make bitcoin a reserve currency and strengthen the mining industry in the country. After the announcement of the voting results, the exchange rate of the leading crypto asset rose sharply and set a new all-time high, just short of the all-important $100,000 level.

Bitcoin has corrected significantly this week, dropping to $93,300 at the time of writing. The asset's short-term decline has led to short-term holders getting rid of 54,600 BTC in the last 24 hours alone.

Bitcoin selloff by short-term holders

According to TradingView, bitcoin's dominance, as measured by its share of the total cryptocurrency market capitalization, is currently around 51%, down from a recent high above 60%.