Bitcoin Price Stagnant As Long-Term Holders Sell To Institutions
Long-term selling pressure from Bitcoin holders has hindered price growth, despite institutional interest. Analysts note that long-term holders have been selling since the launch of spot Bitcoin ETFs in January 2024. A surge in new six-month holders, primarily Bitcoin treasury companies, has offset the selling by long-term holders. These treasury companies are expected to drive significant buying activity, overshadowing the ETF narrative. Recent corporate investors include Cardone Capital and ProCap. Short-term traders are taking profits ahead of a tariff deadline, anticipating market volatility. Bitcoin prices have remained stable between $102,000 and $110,000 since early May, with significant inflows into spot Bitcoin ETFs. BTC was trading up 1.2% at $108,750 but struggled to maintain that level.
