Bitcoin long-term holders ‘quietly capitalizing’ with drop to $109K

Bitcoin markets recently experienced two major liquidation events, causing a cascade of forced selling from over-leveraged traders, but analysts say a distinct pattern has emerged. “Overleveraged short-term traders were flushed out, long-term holders have been quietly capitalizing on the reset,” CryptoQuant analyst Amr Taha said on May 26.  They noted the first flush occurred when Bitcoin (BTC) fell below $111,000, and over $97 million in long positions were liquidated. As its price broke $109,000, another $88 million in longs were wiped out in the second wave source: https://cointelegraph.com/news/bitcoin-long-term-holders-capitalizing-drop-109000?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound