news 
Bitcoin (BTC) Price: Why Veterans Are Dumping on Wall Street Right Now
The price of Bitcoin has been experiencing a volatile ride recently, with the cryptocurrency trading above $108,000 but struggling to break its all-time high of $111,800. As institutional demand continues to propel the market upward, long-term holders are reportedly selling their positions in anticipation of potential price fluctuations.
This unexpected shift in behavior from veteran investors is causing a significant imbalance in the market. Long-term Bitcoin holders have been unloading their positions since the launch of spot ETFs in January 2024. This trend has led to an influx of institutional buyers, resulting in substantial accumulation by new investors.
According to Capriole Investments founder Charles Edwards, this phenomenon is driven by corporate treasury strategies. He notes that six-month holders have absorbed the supply from long-term sellers, revealing a fundamental shift in market participation. These new entrants are actively buying up Bitcoin, which could lead to an explosive growth phase for the asset.
However, short-term traders are taking profits ahead of the July 9 tariff deadline, creating uncertainty and market volatility. Investors are on high alert, awaiting clarity from US macroeconomic data and policy updates this week. The outcome will significantly impact the direction of the Bitcoin market.
Meanwhile, some experts predict a potential pullback to the $90,000-$93,000 range as short-term traders take profits ahead of the deadline. This correction would be viewed as a healthy development by many in the space.
Source: coincentral.com
