Long-Term Bitcoin Investors Drive Price Dip with Profitable Sell-Offs

Bitcoin long-term holders have significantly influenced the recent price drop by selling their coins. Recent data from blockchain analytics platform CryptoQuant indicates that substantial coin sales occurred among these investors. A key metric, the Spent Output Profit Ratio (SOPR), surged above 10, highlighting a major profit-taking event. Gain insights into the movements of long-term Bitcoin

Source: CoinOtag