TechFlow news, July 29: CryptoQuant analysts stated that when the Bitcoin price reached the psychological level of $120,000, long-term holders (LTH) showed a net decrease in holdings. It was reported that institutional investor Galaxy Digital had sold approximately 80,000 bitcoins. Analysis indicates that the current market correction is primarily driven by institutions rather than retail investor activity. The scale of profit-taking remains generally under control, and the market is watching whether this correction will evolve into a broader profit-realization trend.
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