Core Viewpoint - The Bitcoin market is experiencing significant selling pressure from long-term holders, leading to a nearly 30% decline in Bitcoin prices since reaching a historical high of $126,000, with diminishing market support [1][5]. Group 1: Market Dynamics - Long-term holders have been selling Bitcoin at an unprecedented rate, with 1.6 million Bitcoins (valued at approximately $140 billion) that had not been transferred for at least two years being sold since the beginning of 2023 [1][5]. - In 2025 alone, nearly $300 billion worth of Bitcoin that had been dormant for over a year is expected to re-enter circulation [1]. - The selling pressure has been exacerbated by a lack of liquidity in the spot market, making it difficult for prices to rebound [1][6]. Group 2: Impact of External Events - On October 10, a statement from former U.S. President Donald Trump triggered a $19 billion liquidation in the cryptocurrency market, marking the largest single-day liquidation of leveraged funds in history [2][6]. - Following this event, traders have largely exited the derivatives market, and there are currently no clear signs of a price rebound [2][6]. Group 3: Investor Behavior - Some industry executives view the selling by long-term holders as a normal phenomenon, especially given the substantial profits many investors have realized [2][6]. - The price of Bitcoin briefly rose to $90,000 due to short positions being liquidated but quickly fell back, indicating ongoing volatility [2][6]. Group 4: Future Outlook - Analysts suggest that the selling pressure from long-term holders may be nearing saturation, with approximately 20% of Bitcoin's circulating supply being reactivated over the past two years [4][8]. - Expectations are that the selling behavior of early investors will diminish by early 2026, potentially leading to a net buying state in the Bitcoin market as institutional investors increase their positions [4][8].
比特币资深持有者大举套现 加密货币市场遭遇无声撤离潮
Xin Lang Cai Jing·2025-12-18 10:18