{"id":626949,"date":"2024-06-29T03:00:32","date_gmt":"2024-06-29T03:00:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=626949"},"modified":"2024-06-28T18:10:58","modified_gmt":"2024-06-28T18:10:58","slug":"market-tremors-10-billion-in-bitcoin-dumped-in-may-alone","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/","title":{"rendered":"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?"},"content":{"rendered":"<p>May 2024 emerges as a pivotal month for Bitcoin, witnessing a notable amount of liquidation by long-term holders. Blockchain analytics firm IntoTheBlock <a href=\"https:\/\/x.com\/intotheblock\/status\/71643092\" target=\"_blank\" rel=\"noopener nofollow\">highlighted<\/a> a sell-off totaling roughly $10 billion, equivalent to approximately 160,000 BTC.<\/p>\n<p>This trend marked a significant departure from the usual holding patterns seen among long-term investors, who typically help stabilize Bitcoin prices by holding through volatility.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/will-bitcoin-continue-dumping-this-analyst-thinks-so-heres-why\/\" target=\"_blank\" rel=\"noopener \">Will Bitcoin Continue Dumping? This Analyst Thinks So, Here\u2019s Why<\/a><\/div>\n<h2>Bitcoin Stability at Risk?<\/h2>\n<p>Notably, these long-term Bitcoin holders, also known as the stalwarts of the Bitcoin community, have traditionally served as a bulwark against market turbulence, with their investment decisions often reflecting a steadfast belief in the cryptocurrency&#8217;s long-term value.<\/p>\n<p>The change in their behavior in May signals a broader sentiment shift within the market. \u00a0The scale of this sell-off not only underscores a <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-in-red-analyst-predicts-a-40-drop-to-48000-before-recovery\/\" target=\"_blank\" rel=\"noopener \">potential loss<\/a> of faith or a strategic financial recalibration but also poses serious implications for market liquidity and price stability.<\/p>\n<figure style=\"width: 1120px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GRKMl45WcAAfQls?format=jpg&amp;name=medium\" alt=\"Bitcoin balance by time held.\" width=\"1120\" height=\"462\"><figcaption class=\"wp-caption-text\">Bitcoin balance by time held. | Source: IntoTheBlock<\/figcaption><\/figure>\n<p>IntoTheBlock&#8217;s analysis further reveals a slowdown in June, with &#8220;only&#8221; 40,000 BTC sold, suggesting that while the fevered pace of May&#8217;s <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-dive-60k\/\" target=\"_blank\" rel=\"noopener \">sell-offs has cooled<\/a>, the liquidation trend persists. Such continued selling activity contributes to ongoing price pressures, challenging the resilience of Bitcoin&#8217;s market value.<\/p>\n<p>The repercussions of these large-scale disposals extend beyond simple transactional impacts. Bitcoin&#8217;s price has struggled to find firm footing above the $61,000 mark, with frequent fluctuations testing the resolve of both traders and analysts.<\/p>\n<p>Despite brief spikes in trading activity\u2014such as a surge to $62,314 earlier today\u2014Bitcoin&#8217;s price has<a href=\"https:\/\/uniquehot.com\/bitcoin-news\/will-bitcoin-continue-dumping-this-analyst-thinks-so-heres-why\/\" target=\"_blank\" rel=\"noopener \"> retracted to around $60,843<\/a>, reflecting a 1.3% decrease over the past day.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/43mSR9te\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 1-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3AXRPUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2>Adjusting to New Realities<\/h2>\n<p>Adding to the complexity is the significant reduction in Bitcoin mining activity. After the Halving event in April, which reduced mining rewards by half, there has been a marked decrease in mining output.<\/p>\n<p><a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/667e0c86931dcb63ae996678-BTC-Miners-selling-pressure-decreases?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=crypto-dan\" target=\"_blank\" rel=\"noopener nofollow\">Data<\/a> from CryptoQuant indicates a near 90% drop in miner withdrawals, suggesting a drastic cut in selling pressure from this quarter. The reduced mining activity is largely due to decreased profitability, prompting miners to scale back operations and sell fewer coins.<\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/53005\/quicktake\/kSuLnN_3ce7b6b3dce790e6f36773c7b76783ad893c81cf59c96d1aa5b4fb07ddcb8b56.png?resize=1280%2C704&#038;ssl=1\" alt=\"Bitcoin miner withdrawing transactions.\" width=\"1280\" height=\"704\"><figcaption class=\"wp-caption-text\">Bitcoin miner withdrawing transactions. | Source: CryptoQuant<\/figcaption><\/figure>\n<p>This adjustment might normally suggest a tightening of supply and potential upward pressure on prices, yet the overarching market sentiment remains bearish.<\/p>\n<p>CryptoQuant analysis points to a state of &#8220;capitulation&#8221; among miners, a condition supported by the Hash Ribbons metric indicating that the short-term mining hash rate has fallen below its longer-term trend.<\/p>\n<p>Typically, traders consider such signals bullish, indicating<a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-euphoria-boundary-happens-breach\/\" target=\"_blank\" rel=\"noopener \"> potential buying opportunities<\/a>. However, the current market digestion of the recent heavy sell-offs by long-term holders and the reduction in mining output paints a more nuanced picture.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-to-hit-new-heights-analyst-predicts-10x-growth\/\" target=\"_blank\" rel=\"noopener \">Bitcoin To Hit New Heights? Analyst Predicts 10x Growth In Few Years \u2014 Here\u2019s How<\/a><\/div>\n<p>The convergence of these factors might yet forge a pathway out of the current bearish climate, setting the stage for a <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-to-hit-new-heights-analyst-predicts-10x-growth\/\" target=\"_blank\" rel=\"noopener \">potential market recovery<\/a>.<\/p>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>May 2024 emerges as a pivotal month for Bitcoin, witnessing a notable amount of liquidation by long-term holders. Blockchain analytics firm IntoTheBlock highlighted a sell-off totaling roughly $10 billion, equivalent to approximately 160,000 BTC. This trend marked a significant departure from the usual holding patterns seen among long-term investors, who typically help stabilize Bitcoin prices by holding through volatility. Related Reading: Will Bitcoin Continue Dumping? This Analyst Thinks So, Here\u2019s Why Bitcoin Stability at Risk? Notably, these long-term Bitcoin holders, also known as the stalwarts of the Bitcoin community, have traditionally served as a bulwark against market turbulence, with their investment decisions often reflecting a steadfast belief in the cryptocurrency&#8217;s long-term value. The change in their behavior in May signals a broader sentiment shift within the market. \u00a0The scale of this sell-off not only underscores a potential loss of faith or a strategic financial recalibration but also poses serious implications for market liquidity and price stability. IntoTheBlock&#8217;s analysis further reveals a slowdown in June, with &#8220;only&#8221; 40,000 BTC sold, suggesting that while the fevered pace of May&#8217;s sell-offs has cooled, the liquidation trend persists. Such continued selling activity contributes to ongoing price pressures, challenging the resilience of Bitcoin&#8217;s market value. The repercussions of these large-scale disposals extend beyond simple transactional impacts. Bitcoin&#8217;s price has struggled to find firm footing above the $61,000 mark, with frequent fluctuations testing the resolve of both traders and analysts. Despite brief spikes in trading activity\u2014such as a surge to $62,314 earlier today\u2014Bitcoin&#8217;s price has retracted to around $60,843, reflecting a 1.3% decrease over the past day. Adjusting to New Realities Adding to the complexity is the significant reduction in Bitcoin mining activity. After the Halving event in April, which reduced mining rewards by half, there has been a marked decrease in mining output. Data from CryptoQuant indicates a near 90% drop in miner withdrawals, suggesting a drastic cut in selling pressure from this quarter. The reduced mining activity is largely due to decreased profitability, prompting miners to scale back operations and sell fewer coins. This adjustment might normally suggest a tightening of supply and potential upward pressure on prices, yet the overarching market sentiment remains bearish. CryptoQuant analysis points to a state of &#8220;capitulation&#8221; among miners, a condition supported by the Hash Ribbons metric indicating that the short-term mining hash rate has fallen below its longer-term trend. Typically, traders consider such signals bullish, indicating potential buying opportunities. However, the current market digestion of the recent heavy sell-offs by long-term holders and the reduction in mining output paints a more nuanced picture. Related Reading: Bitcoin To Hit New Heights? Analyst Predicts 10x Growth In Few Years \u2014 Here\u2019s How The convergence of these factors might yet forge a pathway out of the current bearish climate, setting the stage for a potential market recovery. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":626963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,639,1119,78790,6664,10923],"class_list":["post-626949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-bitcoin-miners","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\n<title>Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?<\/title>\n<meta name=\"description\" content=\"May 2024 emerges as a pivotal month for Bitcoin, witnessing notable amount of liquidation by long-term holders. Blockchain analytics firm...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?\" \/>\n<meta property=\"og:description\" content=\"May 2024 emerges as a pivotal month for Bitcoin, witnessing notable amount of liquidation by long-term holders. Blockchain analytics firm...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-29T03:00:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-28T18:10:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samuel Edyme\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@0xEdyme\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samuel Edyme\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/\"},\"author\":{\"name\":\"Samuel Edyme\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500\"},\"headline\":\"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?\",\"datePublished\":\"2024-06-29T03:00:32+00:00\",\"dateModified\":\"2024-06-28T18:10:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/\"},\"wordCount\":534,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024\",\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin market\",\"bitcoin miners\",\"btc\",\"BTCUSDT\",\"crypto\",\"crypto market\"],\"articleSection\":[\"Bitcoin News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/\",\"url\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/\",\"name\":\"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024\",\"datePublished\":\"2024-06-29T03:00:32+00:00\",\"dateModified\":\"2024-06-28T18:10:58+00:00\",\"description\":\"May 2024 emerges as a pivotal month for Bitcoin, witnessing notable amount of liquidation by long-term holders. Blockchain analytics firm...\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024\",\"width\":1024,\"height\":1024,\"caption\":\"$10 Billion in Bitcoin Dumped\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500\",\"name\":\"Samuel Edyme\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"caption\":\"Samuel Edyme\"},\"description\":\"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?","description":"May 2024 emerges as a pivotal month for Bitcoin, witnessing notable amount of liquidation by long-term holders. Blockchain analytics firm...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/","og_locale":"en_US","og_type":"article","og_title":"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?","og_description":"May 2024 emerges as a pivotal month for Bitcoin, witnessing notable amount of liquidation by long-term holders. Blockchain analytics firm...","og_url":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-06-29T03:00:32+00:00","article_modified_time":"2024-06-28T18:10:58+00:00","og_image":[{"width":1024,"height":1024,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024","type":"image\/jpeg"}],"author":"Samuel Edyme","twitter_card":"summary_large_image","twitter_creator":"@0xEdyme","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Samuel Edyme","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/"},"author":{"name":"Samuel Edyme","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500"},"headline":"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?","datePublished":"2024-06-29T03:00:32+00:00","dateModified":"2024-06-28T18:10:58+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/"},"wordCount":534,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024","keywords":["bitcoin","bitcoin analysis","bitcoin market","bitcoin miners","btc","BTCUSDT","crypto","crypto market"],"articleSection":["Bitcoin News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/","url":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/","name":"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024","datePublished":"2024-06-29T03:00:32+00:00","dateModified":"2024-06-28T18:10:58+00:00","description":"May 2024 emerges as a pivotal month for Bitcoin, witnessing notable amount of liquidation by long-term holders. Blockchain analytics firm...","breadcrumb":{"@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024","width":1024,"height":1024,"caption":"$10 Billion in Bitcoin Dumped"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500","name":"Samuel Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?","url":"http:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/bitcoin-news\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analysis","bitcoin market","bitcoin miners","btc","btcusdt","crypto","crypto market"],"dateCreated":"2024-06-29T03:00:32Z","datePublished":"2024-06-29T03:00:32Z","dateModified":"2024-06-29T03:00:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/market-tremors-10-billion-in-bitcoin-dumped-in-may-alone\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin market\",\"bitcoin miners\",\"btc\",\"btcusdt\",\"crypto\",\"crypto market\"],\"dateCreated\":\"2024-06-29T03:00:32Z\",\"datePublished\":\"2024-06-29T03:00:32Z\",\"dateModified\":\"2024-06-29T03:00:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-28-18.12.59-Create-a-digital-artwork-for-a-finance-news-article-titled-Market-Tremors_-10-Billion-in-Bitcoin-Dumped-in-May-Alone-What-Does-This-Signal_.-The-i.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/626949"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=626949"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/626949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/626963"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=626949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=626949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=626949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}