Bitcoin's value has dropped significantly, reaching its lowest point in four months at $105, 700. The question on everyone's mind is: who is responsible for this sudden decline? It's not the large institutions. Instead, experts like JPMorgan suggest that long-term crypto investors, often referred to as crypto-native investors, are the ones selling off their Bitcoin in large quantities.

Interestingly, while major crypto exchanges like Binance experienced a sharp decrease in open interest, institutional investors on the CME remained unfazed. This contrast highlights the stark difference between these two groups. Data from the blockchain reveals that last Friday alone, there were $19 billion in liquidations, which sent shockwaves through the market. However, institutional investors stayed calm, with ETFs continuing to see steady inflows.

So, who exactly is selling? It turns out to be the old-timers, often called "ancient whales, " and those who follow the four-year cycle religiously. These investors are selling their Bitcoin, causing quite a commotion. But there's a bright side: these whales won't hold onto their Bitcoin forever, and the four-year cycle will eventually come to an end. Meanwhile, institutions are still buying, which could set the stage for a potential rebound.

In other news, most major cryptocurrencies are in the red, with Bitcoin down nearly 5% and Ethereum down 6%. On the other hand, gold is reaching new highs. Additionally, Charles Schwab is planning to enter the crypto custody space by 2026. There are also several new developments in the crypto and Web3 space, including new partnerships and funding rounds.

The current situation raises questions about the stability of the crypto market. Why are long-term investors suddenly selling? What does this mean for the future of Bitcoin? And how will institutions react to these fluctuations? These are all critical questions that need to be addressed as the market continues to evolve.

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