Bitcoin nears US$65K as long-term holders sell
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- Bitcoin climbed close to US$65,000 after stronger inflation data.
- Two groups of investors used the rally to lock in profits.
- Analysts said selling has so far been absorbed by market demand.
Bitcoin (CRYPTO:BTC) rose to nearly US$65,000 after inflation data lifted market sentiment, but two groups of investors took advantage of the rally to sell into the strength.
Analysts said short-term holders and long-term holders both increased selling as Bitcoin approached its recent highs, allowing many investors to realise profits.
Despite the increased selling, analysts said market demand remained strong enough to absorb the additional supply without triggering a sharp decline.
Long-term holders typically sell during strong rallies to lock in gains, while short-term traders often take profits after rapid price increases.
Bitcoin has continued attracting institutional interest through spot exchange-traded funds and growing corporate investment, helping support demand during periods of increased selling.
The latest market activity suggests profit-taking remains healthy while buyers continue supporting Bitcoin's broader upward trend.
At the time of reporting, Bitcoin price was $64,625.67.
