Analyst: Short-term investors have transferred 83,000 BTC to exchanges due to losses within two days, which may signal a short-term bottom
According to a message from ChainCatcher, as reported by CoinDesk, analyst Van Straten cited Glassnode data showing that in the past two days, short-term holders who have held coins for less than 155 days transferred about 83,000 bitcoins at a loss price to centralized exchanges. This is worth approximately $7.8 billion and sets a new historical high.
Van Straten pointed out that when short-term holders transfer more than $2 billion in bitcoin to exchanges at a loss, it usually signifies the formation of a local bottom. The data shows that currently about 678,000 bitcoins are in a state of loss. Bitcoin's current price has only fallen 7% from its historical high point; only investors who bought in the past week are at a loss.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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