Long-Term Bitcoin Holders Have Sold Over 728,000 BTC in the Past 30 Days

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According to data from CryptoQuant, long-term bitcoin holders have sold more than 728,000 BTC in the past 30 days. 

$67 Billion Bitcoin Dumped in One Month
Over the past 30 days, long-term Bitcoin investors have sold more than 728,000 BTC , worth nearly $67 billion at current prices, data from CryptoQuant shows.

“This is the biggest sell-off since April,” CryptoQuant emphasized in a post on social media X. This contrasts with the strong buying trend of large investors in October, when capital inflows into the market reached nearly 250,000 BTC.

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Market Up But Confidence Shaken?
The sell-off comes as the cryptocurrency market is booming, especially Bitcoin, which has skyrocketed to an all-time high just a few dollars shy of $100,000 after President-elect Donald Trump, a blockchain advocate, won the election.

Still, a key metric, Bitcoin dominance – the ratio of Bitcoin’s market capitalization to the total market – has dropped to 51% , well below its recent peak of more than 60% , according to data from TradingView.

A Turbulent Future
This sell-off could signal underlying concerns in the market, as long-term investors take advantage of the situation to book profits.

However, with support from political factors and a strong bullish trend, Bitcoin remains the center of attraction in the cryptocurrency market.

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