Bitcoin’s Silent Exodus Hits Crypto as Long-Time Buyers Cash Out
(Bloomberg) — Bitcoin’s most entrenched investors are still cashing out — and the pressure is starting to show.
More than two months after the token hit a record high above $126,000, Bitcoin has fallen nearly 30% and is struggling to find support. One reason: its long-time holders haven’t stopped selling. New blockchain data shows that coins held for years are being divested at some of the fastest rates in recent memory, just as the market’s ability to absorb them is fading.
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According to a report from K33 Research, the amount of Bitcoin that had remained unmoved for at least two years has declined by 1.6 million coins since early 2023, roughly $140 billion worth. That signals sustained…
