August has witnessed a slowing in profit-taking following a hectic July in which long-term Bitcoin holders cashed out an average of nearly $1 billion per day. Due to the fact that many participants locked in gains, July saw some of the largest selling activity by Bitcoin investors ever. August’s slower pace might indicate that holders are being more cautious or are simply watching the market’s movement. This change is worth keeping an eye on because it could portend future price movements or a period of stability for Bitcoin.
Long-Term Bitcoin Owners Reduce Profit-Taking in August
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