On the other hand, according to Cauê Oliveira, Research Director and On-Chain Analyst at BlockTrends, novice investors are facing difficulties and losses. During the decline, approximately $2.4 billion worth of Bitcoin purchased in the last 3 to 6 months was sold off as prices fell. These selling pressures originated from individuals or entities who bought Bitcoin earlier in the year, potentially speculating on events such as the launch of Bitcoin spot ETFs or the Bitcoin halving, but now find themselves forced to exit their positions. While categorized as “long-term holders,” their actions resemble those of short-term investors due to their entry earlier in the year at relatively higher levels. Conversely, entities or individuals holding Bitcoin for over a year have refrained from significant selling, indicating that true long-term holders continue to HODL.
