Bitfinex Analyst: Gradual Selling by Long-term Holders Indicates BTC May Enter Consolidation Phase

ChainCatcher news, according to The Block, over the past nine days, the holdings of large Bitcoin holders have shown a negative value. Bitfinex analysts indicate that long-term Bitcoin holders and large investors seem to be the driving force behind the recent Bitcoin sell-off, whether on exchanges or through over-the-counter trading.

Historically, long-term holders tend to gradually sell their Bitcoin during bull markets, especially when the market enters a consolidation phase.