Analyst: Long-term holders gradually selling indicates that Bitcoin may be entering a consolidation phase

Over the past nine days, large Bitcoin holders have consistently shown negative holdings. Bitfinex analysts suggest that long-term Bitcoin holders and substantial investors seem to be the driving force behind recent Bitcoin sell-offs, whether on exchanges or through over-the-counter trades. Historically, long-term holders often gradually sell their Bitcoins during a bull market, especially when the market enters a consolidation phase. (TheBlock)