Investors selling Bitcoin

Investors are selling Bitcoin holdings due to prolonged bearish market

Investors are selling Bitcoin holdings due to prolonged bear market, reveals a new report from Glassnode. The majority of these investors are those who bought BTC during its peak around $69k.

Investors are selling Bitcoin:

Crypto market has been in extreme bearishness since currency made its ATH of $69k in November 2021. Long bearish trend of crypto market seems to an end as BTC crossed $43k price mark. Currently, it is exchanging hands at $43,500. A recent report from crypto data analytics firm, Glassnode, has revealed that prolonged bear market is causing investors to sell their BTC holdings. Investors selling Bitcoin holdings are those who bought it around ATH of currency.

Report further detailed that investors are selling Bitcoin holding in the price range of $35k to $38k. More than 50% of coins has already been sold which were once bought above $60k. The reason for this sell off can be the uncertain situation created by Russia-Ukraine conflict. Report also mentioned that despite prolonged bear market, some investors are still holding BTC.

Investors are selling Bitcoin

Retail Investors selling Bitcoin but whales continue to amass bitcoin according to on chain metrics. In the last month, number of whale addresses climbed to a new ATH indicating the whales are unfazed by macro uncertainties.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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