Bitcoin has been experiencing a notable increase in market activity, with recent movements indicating that sellers are becoming more active. A Major Price Drop On The Horizon? According to a post by XBTManager, a contributor on the CryptoQuant QuickTake platform, Bitcoin’s price rise last week, which saw it temporarily break out of its recent range, was accompanied by a surge in volatility. Related Reading: Bitcoin Poised for a 200% Rally as Analyst Spot Rare Bullish Pattern This uptick in activity included a significant transfer of Bitcoin by short-term holders, with 33,155 BTC moved, as indicated by the 1-week to 1-month spent output age bands. This transfer of assets, particularly by short-term holders, could signal an immediate selling pressure on the market, potentially leading to a short-term price pullback. Meanwhile, despite the chances of a major drop on the horizon given the gradual increase in sellers, Bitcoin has recently managed to reclaim the $65,000 mark, albeit briefly; it has since retraced and is currently trading below this level. As of the time of writing, Bitcoin is holding steady at ..
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