The BTC price has dropped 10% in two days. It had two "spikes" but both reversed immediately. I would like to know what segment of BTC holders are selling so much that it's making the value dive so quickly. Also why did they did they choose to sell now?
It's not "Buy and Hold" BTC holders, because they plan on holding for the long term, it does not make sense to sell just because of the SEC announcement approving BTC ETF's. It's not regular investors, because those people are buying the new spot Bitcoin ETF's, and a collapsing BTC price would actually negatively impact the value of those ETF's.
Is this massive shorting of BTCUSD? Also unlikely.
Massive selling is driving the price down but who are the sellers?
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