Bitcoin Price Drops Amid Ongoing Seller Pressure

The price of Bitcoin (BTC) has declined by 1.59% to $84,636, signaling ongoing seller pressure in the market.

According to TradingView, BTC is trading below its short- and medium-term moving averages but remains above longer-term benchmarks.

The SEC's proposed rules for investment advisers and funds to custody crypto assets through self-custody and state trust companies may influence long-term demand as compliance structures become clearer.

Large Bitcoin holders have accumulated 41,025 BTC in recent activity while retail holdings remain unchanged, highlighting ongoing interest from large holders despite the decline.