Bitcoin Selloff Reaches New Entrants, Long-Term Holders Remain in Profit
AI Summary1 min read
TL;DR
Bitcoin's price drop to $85,800 is driven by new investors and long-term holders selling, with recent buyers facing -25% losses. Old whales remain profitable, and new whales may hold off on selling, indicating potential bull run reversal signs.
Tags
Bitcoinselloffinvestorsprofit/lossbull run
Bitcoin has retreated to $85,800, with new investors and long-term holders driving the selloff. Unrealized losses for entities that have accumulated over 1,000 BTC since May have reached levels not seen since 2023. However, old whales remain in profit, and new whales may not sell immediately. The profit/loss margin for wallets that bought Bitcoin over the past three months has hit -25%, which has historically served as a marker of a bull run reversal.
