"Bitcoin price slipped below $100,000 this week for the first time since June, down more than 20% from its all-time highs above $120,000 last month. The decline comes after weeks of steady spot-market selling, profit-taking by long-term holders, and a cautious macro environment. ETF outflows, a stronger dollar, and broader risk-off sentiment have added to pressure. Bitcoin traded back above $102,000 today, showing some resilience, but volatility remains elevated, according to Bitcoin Magazine Pro."
"Analysts point to ongoing accumulation by new buyers, though long-time holders are reactivating coins at a notable pace. Vetle Lunde of K33 Research noted that over 319,000 Bitcoin held for six to twelve months have moved in recent weeks, much of it real selling. Markus Thielen of 10x Research said mega whales - entities holding between 1,000 and 10,000 BTC - have been offloading significant amounts, while mid-size holders have largely stopped buying."
"Bitcoin's rise over the past decade and a half has been punctuated and marked by identity shifts. In the early years, enthusiasts felt part of a secret movement to build better money for a better world. Critics were loud but often misinformed, and debates over privacy, environmental impact, and financial sovereignty energized the community. The vibes were high, and the project felt meaningful beyond mere price."
Bitcoin retraced over 20% from last month's all-time highs above $120,000 and briefly slipped below $100,000 before rebounding above $102,000. The decline followed weeks of spot-market selling, profit-taking by long-term holders, ETF outflows, a stronger dollar, and broader risk-off sentiment. Volatility remains elevated. New buyers continue accumulating while long-time holders and mega whales have been reactivating and selling significant holdings. Estimates indicate over 319,000 BTC held six to twelve months moved recently and roughly 400,000 BTC, about $45 billion, exited the market in the past month. Bitcoin's cultural identity has shifted toward institutional and corporate adoption.
Read at Bitcoin Magazine
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