BTC Price Decline Attributed to Summer Holidays and Increased Sell Pressure: Analysis by Bitfinex and Experts

Recent data by Bitfinex attributes the drop in BTC prices to a decline in trading activity from institutional participants due to summer holidays. The summer break has led to increased selling pressure as fund managers take time off, affecting market liquidity. Long-term Bitcoin holders have also started liquidating their positions, citing various reasons including market

Source: CoinOtag