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BTC Long-Term Holders Resume Arbitrage...Downside Pressure

"It appears that long-term Bitcoin holders who stopped selling on arbitrage in early May have started selling again," Bitfinex analyzed in a recent report. "Long-term holders started and stopped taking profits above $69,000 in the second quarter, but have recently started selling again at lower prices. This selling could put downward pressure on the market in the near term and could impact the bull cycle in the medium term. Mt Gox redemption pressure is also a potential downside factor."

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Crypto 'Fear-Greed Index' at 83...Extreme greed persists, BTC longs sell off.

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Crypto 'Fear-Greed Index' at 83... Confidence Slips Slightly

Crypto data provider Alternative's self-estimated “Fear and Greed Index” fell seven points from the previous day to 83. The fear deteriorated, but the extreme greed phase persists. The index is a measure of extreme fear in the market, with readings closer to zero indicating extreme fear, and readings