Recent Bitcoin price drops have been attributed to selling pressure from mid-cycle wallets, according to a recent report from VanEck. These investors bought Bitcoin during the early to mid stages of the market cycle and are responsible for the notable 20% decline in the past month alone. Despite this drop, long-term holders, those who acquired coins five years ago or more, have remained largely unchanged, demonstrating their continued confidence in the asset. 86,129.36 (as of 1:35 a.m. EST), a decrease of over 6%. The report highlights how wallets holding Bitcoin for five years or longer make up the majority of recent selling activity. This trend, however, is not indicative of capitulation from long-term investors, but rather a shift in buying and selling behavior among traders who cycle through the market.