Bitcoin Price Not Being Suppressed, Selling by Long-Term Holders, Checkmate Says
2025-06-30 09:24:13
Main Idea
Bitcoin's price consolidation above $100,000 is attributed to long-term holders selling, not market suppression, according to on-chain data and analyst Checkmate.
Key Points
1. Bitcoin has been consolidating above $100,000 since May, with a brief drop below this level on June 22 due to geopolitical tensions between Iran and the U.S.
2. On-chain data shows long-term holders (holding for at least 3 years, some over 10 years) are selling, not suppressing the market for profit.
3. Analyst Checkmate dismisses the market suppression narrative, stating the sideways movement reflects boredom rather than intentional suppression.
4. The article highlights Bitcoin's price stability above $100,000, with long-term holder behavior being a key factor in the current market phase.
Description
Bitcoin (BTC) has been consolidating above $100,000 since the start of May. The only time the price drop below $100,000 was on 22 June, which was a weekend when tensions escalated between Iran and the U.S. However, due to typically low trading volume over weekends, price action is often less reliable during those periods since crypto is the only industry that trades continuously. Despite ongoing discussions about public companies acquiring bitcoin globally, on top of the availability of exchange...
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