Bitcoin Slumps to New Low Amid Aggressive Sell-Off by Long-Term Holders

Bitcoin's recent slide has deepened, with the cryptocurrency reaching a low of $61,300 on Wednesday. This is the lowest point for Bitcoin since February and marks one of its most turbulent periods this year.

The price drop is significant not only in terms of scale but also because it involves long-term holders, who have remained largely dormant until now. According to analysts, these investors are selling aggressively after holding onto their coins for at least 155 days.

A notable portion of the sell-off comes from investors who bought Bitcoin above $90,000 and had previously resisted selling even as prices declined. This suggests that even those with a high investment in Bitcoin are now taking a hit due to the market downturn.