Based on Forklog, the recent Bitcoin price decline from $126,000 was driven by panic selling from short-term holders (STH), not long-term investors (LTH), according to XWIN Research. STHs, many of whom were using leverage, caused sharp price drops by selling coins held for less than three months. LTHs also sold assets in September but their behavior aligns with typical mid-bull-cycle activity. Analysts noted that the drop is a correction within the bull market, not a trend reversal. Meanwhile, analyst Michaël van de Poppe predicted Bitcoin could rise to $100,000 if it forms a higher low above $94,000. On November 14, 148,241 BTC were sold at a loss as prices fell below $100,000, with average purchase prices between $102,000 and $107,000.
Bitcoin Price Drop Attributed to Panic Selling by Short-Term Holders
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