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Bitcoin fell 0.8% to $113,467 early Wednesday, staying close to the one-month low it touched earlier this week. The drop came as U.S. trade tariff threats and signs of slowing global growth weighed heavily on investor confidence, pushing traders away from riskier assets like crypto.
The decline also follows a wave of profit-taking after July’s strong rally. Earlier this week, altcoins briefly surged, but the momentum quickly faded, pulling the broader market lower alongside Bitcoin. 
Profit-Taking from Long-Term Holders

According to on-chain CryptoQuant analyst Maartunn, Bitcoin’s recent slip is being driven largely by selling from long-term holders (LTHs), including the headline-grabbing sale of 80,000 BTC from a Satoshi-era wallet. While that single event made waves, Maartunn stresses that the broader market dynamics are far more significant. 

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