More clear signals indicate long-term holders of Bitcoin (BTC) are slowly starting to sell their holdings. As crypto price movements picked up slightly in June after experiencing a sustained decline, BTC holders were seen making more gains.
In context, long-term holders of BTC have held their crypto assets for more than six months, but those holders have made less profit than short-term holders.
This can be seen through the difference on the chart, in reality the long term BTC holder made a lot of profit while the market price was calm and did not make another drop which is at the price of $23,300.
As such, this movement proves that the price of BTC is likely to be on an upward or downward trajectory. This is due to the presence of pressure in sales that make a breakout (breakout) down or up.
Additionally, Crypto Quant analysts predict a medium-term target of $28,000 to $32,000, while BTC may retest $23,000 in the short term, but this could happen if the price remains in the $19,000 zone.
Furthermore, recently Bitcoin miners have been on a downward trend and it is not a good thing for BTC traders as it could trigger further price declines.
Meanwhile, BTC dropped below $20,000 for the first time in 30 days and traded at $19,938.44, up 0.01% in 24 hours. The justification is that the last time BTC traded below the $20K range was on July 14th.
