Analyst: Since Bitcoin broke $100,000 earlier this year, hodlers have been continuously selling their Bitcoin.

BlockBeats News, September 2nd: Coindesk analyst Omkar Godbole stated that Bitcoin long-term holders, including wallets that have been inactive for many years, have been continuously selling since Bitcoin broke $100,000 earlier this year.

Investors believed that the $100,000 Bitcoin price was too high and chose to take profits, indicating that the market may need some time to adjust to $100,000 as the new normal for Bitcoin. We may continue to see volatile trading to help investors gradually adapt to this elevated valuation level.