Bitcoin’s Price Goes Plummeting Downhill! Long-Term Holders Toss $45 Billion!

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Hold onto your hats, folks, because Bitcoin’s price has decided to take a little tumble! It’s not because of any wild leverage chaos, oh no, this time it’s the oldest Bitcoin holders who are having a change of heart and a bit of a panic sale.

  • Bitcoin’s price has dropped almost 20% from last month’s sky-high peak of over $126,000, now wobbling around $102,000.
  • In the last month, long-term holders have sold off a staggering 400,000 BTC, worth a jaw-dropping $45 billion! Oops.
  • Experts are saying that Bitcoin might keep slipping, or just hang around like a teenager avoiding their chores, with a potential bottom at $85,000 if the selling continues.

So, what’s going on with Bitcoin? Well, it’s been under pressure for the past month, constantly losing a bit of steam. As of right now, it’s sitting pretty at around $102,000, down 1.37% today. So not great news for anyone hoping for a nice spike.

Bitcoin’s value has dropped about 9.2% this week, taking it nearly 20% lower than its peak just a month ago when it was cruising above $126,000. While the whole crypto market has been in a bit of a slump, it turns out there’s a particular bunch of Bitcoin holders causing most of the trouble.

The Real Culprit: Spot Selling, Not Leverage Unwinds!

According to a report from Bloomberg (yes, the fancy folks with the graphs and charts), Bitcoin’s current woes are largely because the long-term holders have started selling. About 400,000 BTC, worth an unbelievable $45 billion, have been dumped in just the past month! These Bitcoin veterans, who’ve been holding their coins for at least six months, are now cashing in on their profits after the rally earlier this year.

Markus Thielen from 10x Research says these long-time Bitcoin lovers are now running for the hills because new demand just isn’t there anymore. “They’re underwater, they need to close their positions,” he said. And don’t even get us started on the whales, those big crypto players holding between 1,000 and 10,000 BTC-they’ve been cutting their exposure since about mid-year. Sounds like a big ol’ sell-off, right?

And wait, there’s more! K33 Research’s Vetle Lunde noticed that over 319,000 BTC that had been dormant for months have suddenly woken up, most likely because people were selling, not just shifting coins around like they’re playing poker. This all fits into the larger picture of a market that’s been liquidating like a splashy soap opera-over $2 billion in crypto positions were wiped out just yesterday alone, a small fry compared to the $19 billion that evaporated during last month’s crash.

All of this selling pressure has been piling on Bitcoin, making it hard for the big institutional players to buy up the excess supply. Thielen added that the balance between old Bitcoin holders selling off and new buyers not rushing in is driving the price and sentiment lower. Classic market drama.

As for the whales, they’ve slowed down too. Buying by wallets holding between 100 and 1,000 BTC has dropped significantly, meaning mid-size investors just aren’t hungry for Bitcoin at the moment. If this trend continues, Bitcoin might just settle down or keep sliding further, with $85,000 being a potential bottom. So, don’t hold your breath for a quick recovery anytime soon!

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2025-11-05 17:13