Bitcoin's recent dip below its 50-week moving average has raised questions about the 2024 bull run's sustainability. According to TokenInsight, the sell-off is driven by three main factors: ETF redemptions, long-term holder sales, and adherence to the four-year cycle narrative. ETF redemptions have compelled issuers to offload Bitcoin, heightening market volatility. Additionally, long-term holders have been capitalizing on the rally by selling into deep liquidity pools. The belief in a four-year cycle has also prompted traders to sell in anticipation of a Q4 2025 peak. Market stabilization is anticipated once these pressures subside.