Bitcoin(BTC) fell on Jul. 16 due to long-term investors’ profit-taking sell-off and the U.S. Congress’ decision to reject cryptocurrency-related regulations. Bitcoin remained around $117,000 on the 16th. Bitcoin fell more than 6% in the face of a sharp correction drop while continuing its new record at $120,000 on the 15th. The reason is the sell-off of long-term investors who hold Bitcoin for more than 155 days. Glassnode, an on-chain analysis platform, reported in a report published on the 16th that the exchange’s sell-off totaled $3.5 billion (KRW 4.859 trill
