Many people are becoming aware of the fact that long-term holders are selling hundreds of thousands of bitcoin and they're asking, "Why sell? Why now?"
The better question is, "Who is providing the consistent bid holding the price above $100,000?"
nostr:naddr1qvzqqqr4gupzq3e0gs8jnmued6f2rp4c6vs07xqvs4vs8zpwt82smcdch4txjvq7qys8wumn8ghj7cnfw33k76twd4shs6tdv9kxjum5wvhx7mnvd9hx2tcpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qqmvf6kcmrfwd5z6um4wpcxc7fdv35hxarjd9382arfdahqq3sste
Too right!
I feel like I’m a winner - just 🍊💊 a very popular coastal beach store after seeing their square/block facility. She just followed me on Insta too and said she was going to get her husband (🤦♀️ better than no one) into it asap as he was the finacial guy in the house.
Slowly but surely!! 🫡
Why not, if they have been holding for 10 plus years.
Just hold billions in unrealised profits, work a 9-5 and eat beans and rice. 🤷
Why are these long term holders selling rather than taking a loan against their bitcoin?
this is the real question ^
My guess would be because it's a relatively new concept and there are pitfalls wrt. taking out a loan against Bitcoin collateral.
Also some countries have low (or no) taxes on profits from selling Bitcoin.
Could also be a risk-off and/or portfolio rebalancing thing for them, where they take the profits and put them in a global stock index fund for example.
Where I live, the interpretation is that if you give up custody of your bitcoin to the lender to take a loan against them, it's the same as if you had sold your bitcoin and you need to pay capital gains tax.
The world may never know but it’s wild to think about
Probably the ones who sold at 30k are now buying back at 100k 😂
The same insiders who are suppressing the price below the ATH.
The strong hands are finally revealing themselves. Institutions are loading up.
Sell spot buy OTC?
Sell spot buy hash?
Year and tax harvesting?
Ftx was a very obvious bottom to accumulate, now slowly distribute on retail etf/btc stocks?
Many people are feeling the pressure, money is not so easy since the last cycles top?
Just a good time to sell? The spread between tops and market bottoms will shrink with time. Eventually aligning with monetary inflation rate plus the total human productivity growth.
Remember there will always be a narrative pushed at tops and bottoms, a reason for buying high and selling the lows.
OGs got tired of winning so much
Conspiracy theory....
What if the OG sellers are NSA, CIA, and FBI employees who were allowed to "play" around with Bitcoin back in the day. Now the government is ready to set up national reserve, and they are being forced to sell. Did Bo Hines find this 😬🏴☠️
Please kick the tires on this one uncle nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy
Leap frog theory
#asknostr
