Bitcoin sells off $3.1 billion in one hour, plummeting after selling off at a high.

Bitcoin (BTC)'s price showed extreme volatility, moving between sharp increases and decreases, with large selling pressures detected across exchanges. As of August 14th, the Taker Sell Volume of Bitcoin reached $3.13 billion within just one hour, demonstrating unprecedented selling pressure. At the local time that morning, Bitcoin seemed to continue its upward trend, reaching an intraday high of $124,210, but subsequently plummeted to $117,698. According to market analysis platform CryptoQuant, the exceptional surge in selling volume during this period dramatically reversed the market sentiment. Investor psychology rapidly cooled within a day without clear reversal signals, with simultaneous selling triggered by massive profit-taking. This phenomenon is confirmed by a 24-hour trading Volume increase of 29.6%. Experts interpret this selling as a potential "typical peak selling" involving both institutional and individual investors. This sharp decline suggests investors who profited from Bitcoin's recent bull run are adjusting their positions. However, Bitcoin currently shows a stabilized trend at around $117,968 on CoinMarketCap, indicating the decline has temporarily halted. Despite this, industry opinions are divided regarding Bitcoin's potential future upward momentum. Some analysts predict the next Bitcoin rebound alongside strong performances of major altcoins like Ethereum (ETH) and Solana (SOL), though short-term selling sentiment remains dominant. If this decline doesn't convert back to buying pressure, reaching a new all-time high might take longer than expected. This massive selling within one hour is an uncommon trend that could potentially mark a significant market turning point, warranting close investor attention.