In the absence of any bull factor, the majority of the big traders are selling their Bitcoin (BTC). Now small traders are asking whether they should go with the sell decision or not.
The current trade price of Bitcoin (BTC), the top crypto asset by market cap, is $66,250. This trade price is 1.23% down over the last 24 hours.
For the last 3 months, the trade price of Bitcoin has fluctuated around the $67k level & this big factor for Bitcoin’s price stability is noticed by almost every big whale.
It is worth it to note that today the price of Bitcoin was trading at the $65k level without any negative news around the Bitcoin & cryptocurrency sector.
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Many experts said that the Bitcoin market is currently under a very high panic phase because there is no bullish factor supporting the trade price of Bitcoin.
In the last 10 days, a very old Bitcoin whale sold 50,000 BTC ( worth nearly $3.3 billion). This news created another level of panic among retail Bitcoin investors.
Some people called it a very big sign of the future market downturn and suggested people sell Bitcoin at the current stable price level.
September 2024 & US politics
As we know currently the majority of the political leaders are supporting Bitcoin & cryptocurrencies, ahead of the US presidential election.
The election is scheduled for Nov of this year and some experts believe September will be the best time for the Bitcoin market, as the US will vote for a Bitcoin-friendly US president.
Although the majority of the crypto people support political support for this sector, some Bitcoin supporters believe it’s not a good thing for the long-term future of the Bitcoin market.
Read also: Top financial expert Kiyosaki urges incremental Bitcoin Buying Despite High Prices
Is it time to sell Bitcoin (BTC)? as OG Whale sold 50,000 BTC in 10 days
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