Long-term Bitcoin holders have "taken profit" over 728,000 BTC in the past 30 days

CryptoQuant data shows that many long-term Bitcoin holders have sold more than 728,000 BTC, worth $67 billion, in the past 30 days. The corresponding BTC price has also dropped from its ATH to around $92,700.

According to CryptoQuant data, long-term Bitcoin holders have sold more than 728,000 BTC in the past 30 days. This is also the largest number of dumping since April this year.

In fact, this situation is not too difficult to understand. Because the price of Bitcoin has grown dramatically since Mr. Donald Trump was elected President of the United States, recording an ATH of nearly $100,000.

$100,000, a number that we could only "expect" in previous years, has now become a reality. Therefore, many investors have decided to take profits.

The phenomenon of taking profits can also be seen from the Bitcoin spot ETF cash flow. Yesterday, at the beginning of the new week, the Bitcoin ETF outflowed 435.3 million USD after the biggest inflow week. Today, it continued to outflow 122.8 million USD.

Due to such selling pressure, the BTC price has had a slight adjustment, currently sideways around 92,800 USD.

Bitcoin Dominance also decreased slightly to around 54.9% after reaching a 3-year peak of over 60%.

Thanks to the decrease in Dominance, the cash flow that has been held in BTC for a long time has had the opportunity to shift to Altcoin, opening up hope for an Altcoin Season not far away.