Ed Engel

Bitcoin's high conviction holders are turning into sellers as the crypto's price hits new lows

Bitcoin's highest conviction holders have joined the sell-off in the cryptocurrency, which could signal the beginning of the end of the ongoing crypto slump, according to Compass Point. Long-term holders – defined as those that have held onto their coins for at least 155 days, or about five months – were largely inactive from February to April but have turned into sellers in recent weeks, Compass Point analyst Ed Engel said in a note Tuesday. In the past two days they've sold about $2.4...