• bitcoinBitcoin (BTC) $ 102,022.00
  • ethereumEthereum (ETH) $ 3,426.81
  • tetherTether (USDT) $ 0.999832
  • xrpXRP (XRP) $ 2.41
  • bnbBNB (BNB) $ 956.13
  • solanaWrapped SOL (SOL) $ 152.77
  • usd-coinUSDC (USDC) $ 0.999708
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  • tronTRON (TRX) $ 0.294694
  • dogecoinDogecoin (DOGE) $ 0.171245

Bitcoin OGs sell up to get ‘incredible tax advantages’ of ETFs: Analyst

Many long-term Bitcoiners are selling up, such as early arbitrage trader Owen Gunden, who shifted the last of his 11,000 Bitcoin to an exchange.

🔗 Source

💡 DMK Insight

Long-term Bitcoin holders are cashing out, and that’s a big deal for market sentiment right now. When seasoned traders like Owen Gunden start selling significant amounts, it often signals a shift in market psychology. This could indicate that these holders are losing faith in the current price stability or future growth potential, which might lead to increased volatility. If we see more selling pressure, Bitcoin could struggle to maintain key support levels. Watch for the $25,000 mark; if it breaks, we could see a cascade effect as stop-losses trigger. On the flip side, this could also present a buying opportunity for those looking to enter at lower prices. If Bitcoin dips significantly, it might attract new buyers who see value at these levels. Keep an eye on trading volumes and sentiment indicators to gauge whether this selling trend is a temporary blip or the start of a more significant downturn.

📮 Takeaway

Monitor Bitcoin’s price closely; a drop below $25,000 could trigger further selling, while a rebound might attract new buyers.

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