Market Wrap: Bitcoin Slumps Below $20K as Long-Term Holders Face Massive Selling Pressure
— Wrap, Selling, Holders, Tokens, Market, Suggesting, Supply, Shortterm, Slumps, Bitcoin — 1 min read
Long-term holders held more than 34% of the crypto supply at a loss during previous bear markets. Short-term investors currently hold 16.2% of supply, suggesting that more tokens have to be redistributed to long-term owners before the market can emerge from a bottom. The market has not yet reached a bottom, suggesting more tokens must be redistributed before it can be recovered from the market's bear market, according to the latest report by the FTSE. The report was published by the fTSE on Monday, October 8 at 10 a.m. ET. For confidential support call the Samaritans on 08457 90 90 90, visit a local Samaritans branch or click here for details. In the U.S. call the Source