Opinion: The BTC pullback is mainly due to short-term overbuying leading to a weakened buying power, which cannot withstand the continuous selling by LTH
Crypto Hunter posted that the recent BTC pullback is mainly due to short-term overbuying leading to a weakened buying power, which couldn't withstand the continuous selling by LTH. Since November 6th, when BTC hit a new high, LTH began to accelerate its sell-off, and after breaking through 90,000 there was even a wave of selling climax. The current source of sales mainly comes from investors who have held coins for 6-12 months, with an average daily profit sale of 25.6 thousand BTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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