Bitcoin: Who Is Really Selling BTC?
The cryptocurrency market has been experiencing notable shifts. Bitcoin (BTC), the world’s very first cryptocurrency was seen struggling to hold ground. Despite a rather bullish week, the king coin remains quite far away from its all-time high. The asset achieved a peak of $109,114.88 back in January which was about three months ago. Sadly now, BTC is trading below the $100,000 mark as well. Amidst this chaos, throughout April, exchanges have been witnessing consistent sell pressure. While this is certainly a bearish sign, analysts were figuring out the faces behind this sell-off. Also Read: US Dollar Struggles While Ruble Rises 38%—Is a New Economic Order Coming? A Look Into Bitcoin’s Sellers Source: Watcher Guru According to an analyst on CryptoQuant, short-term holders of the king coin are the primary sellers. These investor transfer exchanges an average of about 930 BTC per day. Long-term holders only moved around 529 BTC each day. This further shows that long-term convi...