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Data: Short-term Bitcoin Holders Transfer 15,000 BTC at Loss, Long-term Holders Absorbing Selling Pressure
Summary: According to Cointelegraph, CryptoQuant on-chain data shows that short-term Bitcoin holders transferred 15,000 BTC at a loss this week, increasing the likelihood of the price dropping below $100,000. On Monday, 959 BTC were transferred at a loss to exchanges, surging to 16,700 by Wednesday, coinciding with BTC price dropping from $106,500 to $103,500. This behavior ...
According to Cointelegraph, CryptoQuant on-chain data shows that short-term Bitcoin holders transferred 15,000 BTC at a loss this week, increasing the likelihood of the price dropping below $100,000. On Monday, 959 BTC were transferred at a loss to exchanges, surging to 16,700 by Wednesday, coinciding with BTC price dropping from $106,500 to $103,500. This behavior reflects short-term holders tending to panic sell during price drops, often resulting in losses. When these weak hands exit the market, their BTC usually transfers to long-term holders, helping stabilize the market and form a stronger price floor. Based on the STH-LTH net position change chart, short-term holders have been actively selling over the past month, with most of the selling being absorbed by long-term holders. This dynamic may have played a crucial role in maintaining BTC price above $100,000.
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Link: Data: Short-term Bitcoin Holders Transfer 15,000 BTC at Loss, Long-term Holders Absorbing Selling Pressure [Copy]
