Bitcoin Tests $63K as Long-Term Holders Keep Selling at a Loss

Bitcoin is testing the $63K level as long-term holders continue selling at a loss. The market is closely monitoring how this movement will impact Bitcoin's price dynamics.

Miner Wallet Movements and Institutional Fund Flows Analysis

■Bitcoin's on-chain data shows long-term holders have sold over 100,000 BTC at a loss.

■Institutional fund flows are recording net buying activity in Bitcoin, though these purchases are dominated by short-term holders.

■Miner wallet movements indicate Bitcoin is under pressure from retail investors.

Market Reaction and Technical Analysis

■Bitcoin has recorded a -2.23% change in 24-hour trading.

■Technical analysis shows Bitcoin is testing support levels at $63K.

■The RSI (Relative Strength Index) dropping below 30 indicates further downside risk for Bitcoin.

Long-term holders' selling at a loss is continuing to negatively impact Bitcoin's price dynamics. Institutional fund flows' net buying activity is positively affecting Bitcoin's institutional credibility, but the dominance of these purchases by short-term holders is keeping Bitcoin's price levels under the pressure of long-term holders.