Bitcoin Sell-Off Led by New Investors Seeking Quick Profits
Despite the recent market correction and liquidations exceeding $500 million, Bitcoin (BTC) continues to hover near the $100,000 mark. According to a report from Glassnode, the seller pressure in this bull market is mainly driven by new investors. The report shows that holders of Bitcoin who bought six months to a year ago have realized profits of $12.6 billion, accounting for 35.3% of all sell-offs. This group mainly consists of market entrants after the launch of Bitcoin ETFs and appears to be focused on short-term profits. At the same time, long-term holders are also taking profits, but at a slower pace, with those who have held for more than a year contributing relatively lower amounts.
