Let's talk about Cryptocurrencies

[Fuzz]

What's happening? Did it drop because someone finally found a practical use for it?

[topfiverecords]

Originally Posted by Fuzz

What's happening? Did it drop because someone finally found a practical use for it?

Someone sold a bunch to someone who bought a bunch, but for a lower than previous amount.

Needed to cash out to buy Lambos for the grandchildren.

[Fuzz]

Over the past month, long-term holders have sold more than 400,000 BTC, one of the largest waves of selling in the network’s history.

These are not short-term traders; these are wallets that have held Bitcoin for many years, some since its earliest days. Their selling has generated fear and uncertainty in the market.

On-chain data indicates that old Bitcoin wallets, including coins that have remained dormant for years, are suddenly becoming active.This suggests that early Bitcoin adopters and miners are taking profits and reducing their holdings.

Historically, these early holders could not sell large amounts without crashing the price due to limited liquidity. However, the market has changed. With spot Bitcoin ETFs, institutional inflows, and corporate treasuries now holding Bitcoin, the market can absorb large sales without triggering a massive crash.

Thanks to this increased liquidity, early investors are now distributing their holdings gradually and strategically.

https://coinpedia.org/news/crypto-ma...coin-sell-off/

So regulatory changes are allowing early adopters to finally cash out. My mistake in assuming it had found a practical use.

[dino7c]

You guys talk #### about me posting only when its up...when this was bumped today I knew exactly who I would find in here lol

Its on sale, buy

[Fuzz]

Thanks for the discussion. I was actually curious why it dropped.


I get that you are just gambling, but for all your complaining about others in this thread, you are probably the most useless poster when it comes to actual information here.

[dino7c]

Come on now, you saw it dropped and came here and your first post was a smug comment...something you call me out on the other way don't lie.

Its dropped because no asset class just goes up in a straight line...NVIDA is down 4% today. the fact that the drop stopped in the 100K US range is incredibly bulish for the future of Bitcoin.

From the article you posted:

Macro investor Jordi Visser describes this phase not as a market failure but as Bitcoin’s “IPO moment.” In traditional finance, early investors reduce exposure when a company matures and institutional capital steps in. The same appears to be happening with Bitcoin today. Unlike previous cycles, selling from large holders is no longer crashing the price.

I also know for a fact some of these big whales are "crashing the price" to buy more on sale...they know 1M BTC is here in the next 5 or so years.

As for practicle use...I could send 1M directly to someone in another country a couple minutes, try that with your bank....see you in a week.

[Fuzz]

You could do that with any number of other cryptocurrencies. I'm not sure that justifies the value.

[dino7c]

The value becomes more stable as it goes higher