Long-term investor sells 199 BTC for $13.55 million after 5 years, holding 301 BTC

From Investing.com
October 18, 2024 1:30:19 pm:

A long-term investor recently made waves by selling 199 BTC, worth $13.55 million, after holding for five years. Previous transactions totaled $32.13 million, leaving them with 301 BTC, valued at $20.42 million, and a total profit of $44.28 million. BTC price hovers near $68,000, with potential growth toward $70,200 signaling a new uptrend.

BTC reached a technical target of $68,550 from $52,500 with key support now at $65,800. Consolidation below $68,000 could lead to levels of $63,000 or $55,800 per BTC. However, staying closer to $70,200 favors the bulls. A “diamond hands” investor’s actions are seen as rational given the current market uncertainty.

As Bitcoin’s price remains in a delicate balance, the long-term investor’s adjustment of risk through gradual selling is perceived as a rational move. Despite uncertainty, the investor retains a majority of holdings due to prevailing bullish sentiment.

Read more at Investing.com: ‘Diamond Hands’ Bitcoin Investor Sells BTC After 5 Years of HODLing By U.Today