Bitcoin Investors from Peak Periods Sell Holdings Amidst Volatility
According to recent data from Glassnode, Bitcoin investors who entered the market at its peak are now selling their holdings. This trend has been observed in two specific cohorts - those who bought in between 1-2 years ago at $97k and those who entered during the 6-12 month period last year at $89k. These groups remain underwater, meaning they have not yet recovered their initial investment.
However, it's the investors from the 2025 rally that are selling in the highest volume per day this year. This development is significant as it suggests that even those who entered during a relatively recent period of price growth are now opting to sell. In contrast, dip buyers, who typically enter the market at lower prices with the expectation of buying low and selling high, remain silent.
The current price action for BTC shows that it is trading within its Bollinger Bands, with an upper resistance level at $86,182.35 and a lower support level at $82,761.83. The bullish structure remains intact above the 50-day EMA ($84,091.16) and the 200-day EMA ($80,615.39), but the MACD death cross at 250.23 warns of potential momentum loss.
A test of the 50-EMA support level appears probable before any continuation higher, suggesting that Bitcoin may experience some volatility in the near term.