Viewpoint: Long term BTC holders are still waiting for a higher exit price and need to be wary of the 'bull market trap'

Odaily Planet Daily News: Kirill Kretov, a trading expert at CoinPanel, a cryptocurrency trading automation platform, warns investors to be extra cautious in the current environment: the market remains fragile and highly susceptible to manipulation. The activity of retail investors is low, with thin trading volume, and even so-called smart money is on the sidelines. It is not accidental that the forces that truly have the ability to drive the market choose to remain inactive. Kirill Kretov believes that long-term holders of Bitcoin, who have gone through the previous cycles, are still holding onto their positions and waiting for higher exit prices. This "reluctance to sell" behavior creates market selling pressure and exacerbates price volatility vulnerability. Although volatility may cleanse retail investors of excessive holdings, he pointed out that only a "complete liquidation" where long-term holders are forced to sell can create a "pure stage" for large investors to establish new positions. Prior to this, any rebound was fraught with danger, as they could lure impatient bulls into entering and subsequently encounter a severe reversal - a typical bull market trap in a low liquidity environment. （Bloomberg）