HomeUncategorizedBitcoin long-term hodlers begin ‘distribution’ which preceded BTC price bottoms By Cointelegraph

Bitcoin long-term hodlers begin ‘distribution’ which preceded BTC price bottoms By Cointelegraph

June 5, 2022

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Bitcoin long-term hodlers begin ‘distribution’ which preceded BTC price bottoms

(BTC) stayed wedged in a tight range on June 4 as traders’ demands for a new macro low persisted.

1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD stuck between $29,000 and $30,000 into the weekend.

Bitcoin long-term holder SOPR annotated chart (screenshot). Source: CryptoQuant
Bitcoin exchange netflows chart. Source: Glassnode