đš Is the Bitcoin Sell-Off a Blip or a Crash? VanEck Weighs In! đ
A fresh report from VanEck offers a crucial look under the hood of the recent Bitcoin price action, suggesting the current downturn is a cyclical rotation, not long-term capitulation.
Who's Selling? Medium-Term Traders! đ
Medium-Term Holders (3-5 years): These wallets are driving the sell-off, reducing their balances by a significant 32% over the past two years. VanEck views these participants as "cycle-driven traders."
Long-Term Wallets: In stark contrast, the longest-held Bitcoin wallets remain "remarkably stable," suggesting conviction among true BTC believers is firm.
Key Market Dynamics to Note:
Speculation Reset: Speculative activity is seeing a sharp drop, with Bitcoin perpetual open interest falling 20% since October 9th. This has pushed funding rates back to levels seen in previous market downturns, signaling a healthy reset of leverage.
Whale Rotation: We're seeing a shift in whale behaviorâlarger whale cohorts are trimming exposure, but smaller whale wallets are steadily accumulating the supply.
The takeaway? The market is shaking out the mid-cycle traders, while long-term investors are holding strong. It's a classic rotation!
What are your thoughts on this VanEck analysis? đ
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