Why Did Bitcoin Plunge Under $58,000? On-Chain Data Says This

Bitcoin has observed a crash below the $58,000 level today. Here’s what could be a potential cause for it, according to on-chain data. Bitcoin Long-Term Holders Have Just Taken Large Profits As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin long-term holders harvested a large amount of profits during the latest price drawdown. Related Reading: These Are The Altcoins In... source: https://www.newsbtc.com/bitcoin-news/bitcoin-plunge-58000-on-chain-data-says-this/