Long-term Bitcoin holders "quietly took profits" when the price dropped to $109,000
ChainCatcher news, according to CoinTelegraph, analysts say that during the recent market pressure that caused Bitcoin's price to drop below $109,000, long-term holders have been accumulating Bitcoin.
CryptoQuant analyst Amr Taha pointed out on May 26 that over-leveraged short-term traders were liquidated, while long-term holders quietly profited during the market reset. As short-term traders faced margin calls and forced sell-offs, long-term holders increased their accumulation, resulting in the realized market value of long-term holders soaring to over $28 billion, a level not seen since April.
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