"Potential peak for Bitcoin"

It has been observed that long-term Bitcoin holders have made significant sales as the price of BTC reached $100,000.

CryptoQuant analyst Maartuun compared the current state of Bitcoin to a game of musical chairs and warned investors about what could happen after the music stops. On December 8th, Maartun addressed his followers and used the following statements:

“This is a game of musical chairs. Enjoy the game but be prepared when the music stops.”

An analyst has stated that wallets holding Bitcoin for a long time have started to move as BTC price climbs to $100,000. According to data, long-term wallets holding Bitcoin for at least 155 days sold 827,783 BTC worth around $99,200 each. These sales occurred within the last month.

Bitcoin has entered a dangerous process

Investors who have been holding Bitcoin in their wallets for a long time selling $82.6 billion worth of BTC in 30 days has caused concern. Analysts suggest that BTC may have reached its peak.

According to analysts, if long-term wallets continue to sell, declines may begin in the market. These declines could lead to a decrease in buying demand. Analysts interpreted all of these scenarios as a potential peak.

CryptoQuant analyst Maartuun pointed out the 149,800 BTC purchased by MicroStrategy and the 84,193 BTC entering spot Bitcoin ETFs. The analyst noted that the two institutional purchases accounted for only 30% of long-term wallets.

Maartuun examined the 30-day change graph of demand in individual investors. The graph shows that demand from individual investors has reached its highest levels of the year. Coinglass stated that individual investors are most active in futures trading.

According to Bitbo data, long-term Bitcoin holders have an average cost of $24,481. These wallets are sitting on an average gain of about 400 percent.

On December 6th, Real Vision's chief crypto analyst Jamie Coutts argued that the accumulated liquidity in Bitcoin could pose a danger. Coutts used the following expressions;

**"Bitcoin has reached new highs in the face of a deteriorating liquidity backdrop. Although it is exciting, the rally will only continue for a limited time." **

This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.