Bloomberg: Long-Term Hodlers Sell Over $45 Billion in BTC in Past Month, Market Plunges

BlockBeats News, November 5th, according to Bloomberg, Bitcoin fell as much as 7.4% on Tuesday, breaking below the $100,000 level for the first time since June.

Over the past month, long-term Bitcoin holders have sold about 400,000 Bitcoins, equivalent to about $45 billion in outflows, causing a market imbalance.

This round of decline was mainly driven by continued selling pressure in the spot market, with market focus on those long-term holders who chose to sell.