Who is selling Bitcoin now?
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The price of Bitcoin approaches the historical maximum zone, but it still does not touch it.
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Short -term Hodlers are taking profits.
Bitcoin (BTC) currently quote under $ 105,000a short distance from its historical maximum of approximately $ 110,000.
As cryptootics has shown it, The conditions are given for a bullish breakdown: a commercial agreement between the United States and China, the expectation of interest rate cuts by the American Federal Reserve (Fed), and a strong entry of institutional capital.
In this context, the fear and greed index – which measures the feeling of the market – marks “greed” levels, while global stock markets are also recovered and show signs of appetite by risk.
The stage could not be more favorable. And yet Bitcoin has been lateralizing at $ 5,000 for several days below his historic roof.
The question that arises is evident: Why don’t you finish breaking up? The answer could be in the offer that still persists in the market, particularly from Short -term Hodlers that are taking profits after a cycle of strong increases.
As seen in the following image, taken from the Glassnode platform, the short -term Hodlers (those who maintain their coins for less than 155 days) are in profits.
Like these investors, in general, they have no vocation of permanence in Bitcoin, when they see that they are with green numbers, they tend to sell BTC in exchange for money Fíat or Stablecoins to make benefits.
It is worth clarifying that the activity of these vendors does not necessarily imply a trend reversion, but it can generate temporary resistance, making it difficult to overcome certain key levels, such as $ 110,000. In that price zone – according to Iván Paz Chain, CEO of Trading Different – there is a strong concentration of liquidity, so Bitcoin will tend to go there without many obstacles after overcoming the current barrier.
As long as that offer is not completely absorbed, the price will have difficulty advanced with force towards new heights. However, once this saleswoman pressure was exhausted, the road could be cleared for a new bullish rally.
The market continues to observe, analyze and wait. Bitcoin, for now, breathes before running.
