Bitcoin’s Silent Exodus Hits Crypto as Long-Time Buyers Cash Out
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Bitcoin’s most entrenched investors are still cashing out — and the pressure is starting to show.More than two months after the token hit a record high above $126,000, Bitcoin has fallen nearly 30% and is struggling to find support. One reason: its long-time holders haven’t stopped selling. New blockchain data shows that coins held for years are being divested at some of the fastest rates in recent memory, just as the market’s ability to absorb them is fading.