#CreatorPad

Holders Resting During Selling Pressure Eases

The most significant correction begins when holders start selling. And that is why we see the current utilized output band.

Between July 23 and August 1, the utilized output band for 7–10 years widened slightly. This indicates that wallets that have been inactive for a long time, holding Bitcoin for nearly a decade, are moving coins. This kind of selling pressure previously occurred between July 10 and July 19, when the price of Bitcoin corrected from a peak of US$123,000 to US$117,000.