Bitcoin price fell sharply today, sliding from an intraday high of $104,000 to $98,113, wiping out earlier gains and marking a decisive breakdown in price action. 

Starting in morning trading, the Bitcoin price consistently bled down from the upper $102,000s to lows of $97,870.

According to Bitcoin Magazine Pro data, the last time Bitcoin price was near these levels (sub $98,000) was in early May — roughly May 8 depending on time zone. Bitcoin price vaulted above $100,000 for over 40 days after that before dipping back to $98,000 in late June.

One possible reason why the bitcoin price is long-term holders that are unloading at record levels. Data from CryptoQuant shows…

Read more on BitcoinMagazine