Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
There have been long awaited investors whom have bought Bitcoin las bull run and Bitcoin fell dip for so long that they held bitcoin continuously till this upcoming bull run and all they could do is to target the price of btc to grow above the previous buying point which they sold it in other for it not to fall back again because they are not sure if the bull run is coming or we are already in bull run.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
The traders are responsible for the slow volatility of bitcoin, because each time btc price increase a little they sell, and when they sell the price drop. the investors on dip and Hodl will buy the dip, the price will surge higher, the traders will sell keeping the volatility of Bitcoin stagnant and capitalising on the liquidity of the investors which they put into BTC to make it volatile. thats why we say let's people buy and hold. the investors like Michael J Saylor are the people who even triggers the push up of Bitcoin, because when they will buy massive number of btc the price pushes up. And other investors will follow the lead and buy, it keep pushing no body will want to be left behind. buying oder now becomes %80 and above untill traders will drop it down by pulling their fund. That is just the reason behind it in my understanding.
