FundingVest
Old Bitcoins Are Entering Circulation
As Bitcoin Hits $104,000, Old Bitcoin Transfers Resurface At its recent peak around December 5, Bitcoin saw significant transfers from both short-term holders and long-term holders. These transfers brought about a potential heavy selling pressure, leading the price to swiftly drop to $90,000. After recovering quickly, the price climbed back to $102,000. However, market activity has intensified once again, indicating a tendency for continued selling pressure. Summary: Bitcoin, at its strong resistance level of $104,000, has seen an increase in movements of old Bitcoins, leading to heightened selling pressure. This suggests that long-term holders (LTH) are selling their assets. For now, the possibility of a continued pullback remains in play.