Bitcoin Sell-Off Led by New Investors Seeking Quick Profits

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Bitcoin (BTC) continues to hover near the $100,000 mark despite recent market corrections and over $500 million in liquidations. According to a report by Glassnode, the sell-side pressure in this bull run is primarily driven by newer investors. The report reveals that holders who acquired Bitcoin 6 months to a year ago have realized $12.6 billion in profits, contributing 35.3% of all sell-offs. This group, largely consisting of market entrants post-Bitcoin ETF launches, appears focused on short-term profits. Meanwhile, long-term holders are also taking profits but at a slower pace, with those holding for over a year contributing comparatively lower amounts.