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Bitcoin has stayed stable even after long-term holders sold large amounts, including from old wallets dating back to the Satoshi era.
Still, the market is handling these big sales well. Strong liquidity and steady buying from treasury-focused companies show that larger, experienced traders are active.
These traders care less about short-term price moves.
With August usually being a quiet and unpredictable month, Bitcoin’s ability to stay steady could be a good sign.
Source: @KaikoData