According to Samson Mow, chief executive officer at JAN3, “newish” buyers are actually the source of the recent sell-off.
He claims that those who purchased Bitcoin in the last 12-18 months are now taking profits after securing relatively modest gains (roughly 20%-30%).
These investors are now jumping ship after reading about the cycle peaking this year. Hence, they are rushing to lock in their gains before it is too late, Mow claims.
As reported by U.Today, there has also been a lot of selling by Bitcoin OGs, according to on-chain data. Mow claims that this has also influenced more recent buyers, who are now rushing for the exit.
Pinning hopes on 2026
After 2025 has turned out to be an extremely underwhelming year for Bitcoin holders, the bulls are now pinning their hopes on 2026.
Mow claims that 2026 is going to be a great year for crypto, echoing Cardano founder Charles Hoskinson.
This sentiment is somehow shared by banking giant JPMorgan, which recently predicted that the BTC price could reach $170,000 this year.