Bitfinex Analyst LongTerm Holders Gradually Selling Indicates Bitcoin May Enter Consolidation Phase

Compared to the news, over the past nine days, large Bitcoin holders have been showing negative positions. Analysts at Bitfinex suggest that long-term Bitcoin holders and large investors seem to be the driving force behind the recent Bitcoin sell-off, whether on exchanges or through over-the-counter trading. Historically, long-term holders tend to gradually sell their Bitcoin holdings during bull markets, especially when the market enters a consolidation phase.