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News Explorer — Bitcoin Slides as Long-term Holders Accumulate BTC, Signaling Bullish Sentiment and Potential Price Gains

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Jun 4, 6:27 am
Coindesk

Bitcoin Slides as Long-term Holders Accumulate BTC, Signaling Bullish Sentiment and Potential Price Gains

Bitcoin experienced a slight slide to $69,200 after briefly surpassing $70,000, while other major tokens had mixed price action. Bitfinex suggests that the recent slump in bitcoin prices may have been driven by long-term holders selling, but on-chain data shows that investors are accumulating BTC. The sentiment around bitcoin remains bullish, with a significant portion of long-term bitcoin supply showing no movements, indicating strong conviction and potential for further price gains.

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