The cryptocurrency market experienced a dramatic price drop for Bitcoin, plummeting below the critical $100,000 threshold. This sudden decline has shaken the crypto community and raised important questions about the drivers behind this downward movement and potential future trends. Analysis suggests long-term holders are responsible for the significant sell-offs, signaling a shift in market sentiment. On-chain data reveals a staggering reduction of over 300,000 BTC from long-term holdings since July, marking one of the largest profit-taking events in recent years. This selling activity has been part of a larger trend and reflects the growing maturity of Bitcoin as an investment: long-term holders are now taking profits at scale. 365-day simple moving average and exponential moving average offer critical support levels for Bitcoin price action, acting as key battlegrounds between bulls and bears. The market is watching closely for a breakdown of these levels, which could trigger additional selling pressure. The current drop in Bitcoin presents both a chance to invest and a potential warning sign. Long-term holders’ profit-taking patterns suggest short-term price corrections followed by potential recovery. This historical context offers insight into the current situation: past instances have typically been followed by market consolidation periods and eventual recoveries. Experts emphasize that this dip might be a healthy market reset rather than a fundamental trend change. It’s crucial to remember, however, that crypto markets are volatile, and investors must exercise caution during short-term price fluctuations. Staying informed about long-term fundamentals and trends is key for making sound investment decisions.