Bitcoin drops to $85,000

Bitcoin has fallen to the level of $85,000, after a decline of about 2% over the past 24 hours.

This decline comes amid a broader wave of downturn in the cryptocurrency market, as Ethereum decreased by 1.3% to approximately $2,789, while XRP dropped by about 3% to reach $1.80.

This negative performance occurs as early Bitcoin investors continue to liquidate part of their holdings, with increasing signs of rising selling pressure in the market.

According to a report issued by K33 Research (K33 Research), the amount of Bitcoin that has remained inactive for at least two years has decreased by about 1.6 million coins since early 2023, worth nearly $140 billion, indicating that long-term investors are continuing to sell.