Are long-term holders quietly stepping back as $BTC touches $120K?
After months of consistent accumulation from March through July, the mood seems to be shifting. Those who were once confidently stacking are now easing off the gas, with net positions turning negative right at this key psychological and technical level. It’s not a panic move, but it definitely raises eyebrows. $120K isn’t just another milestone, it’s the kind of number that makes even veteran holders reassess their risk. The real question is whether this is just a breather before the next breakout, or the early signs of a bigger unwind. If the smart money is quietly securing profits, should you be doing the same or is this the dip to stay in?
