Bitcoin Selling Pressure from Long-Term Holders Not Market Suppression
Bitcoin (BTC) has remained above $100,000 since early May, with a brief drop below this threshold on June 22 amid rising tensions between Iran and the U.S.:
- Low trading volume during weekends often leads to unreliable price action.
- Despite global acquisitions of Bitcoin by public companies and the availability of ETFs in the U.S., BTC has not yet surpassed its all-time high of $112,000.
- On-chain data indicates increased selling pressure from long-term holders (3+ years), suggesting market manipulation is contributing to price suppression.
- Analyst Checkmate noted that the persistence of sellers in a bull market may indicate ongoing market suppression rather than strategic selling.
Current consolidation patterns reflect a balance of supply and demand, with potential implications for future price movements.