Bitcoin holders sell 245K BTC in tight macro conditions: Did the market bottom?

💡 DMK Insight

Long-term Bitcoin holders just sold 245,000 BTC, and here’s why that matters: When significant holders offload their assets, it often indicates a shift in market sentiment. The fact that this selling occurred as Bitcoin dipped below $60,000 suggests that these holders might be reacting to broader economic signals, possibly anticipating further declines or seeking to lock in profits. However, the emergence of dip-buyers could indicate that the market is finding a floor, especially if these buyers are supported by positive macroeconomic data from the US. Traders should keep an eye on key support levels around $58,000 to $59,000. If Bitcoin can hold above these levels, it may attract more buyers looking for a rebound. Conversely, a drop below these levels could trigger further selling pressure. Watch for upcoming economic reports that could sway sentiment—strong data might reinforce bullish momentum, while weak data could lead to more volatility. The next few days will be crucial in determining whether this dip-buying trend can sustain itself or if we’re in for more turbulence.