Bitcoin’s short-term holders offload $2.4 billion amid price drop below $95,000

exchange68January 9, 2025

0 4 1 minute read

Bitcoin’s price dropped sharply below $95,000 on Jan. 8, erasing gains made earlier in the week when it briefly surpassed $100,000.

Data from CryptoQuant reveals that short-term holders (STHs)—investors holding Bitcoin for less than 155 days—were key players in this sell-off. Over 26,000 BTC valued at more than $2.4 billion were moved to exchanges at a loss.

Bitcoin Short Term Holders Exchange Transfers — Bitcoin Short-Term Holders Exchange Transfers (Source: CryptoQuant)

Meanwhile, further analysis from Alphractal showed that this wave of selling pressure coincides with a broader decline in accumulation trends among this cohort of investors.

According to the firm, the “Accumulation vs. Distribution of STH” metric shows that STHs have a growing preference for liquidating rather than accumulating their BTC holdings.

Short Term Bitcoin Holders — Bitcoin Short-Term Holders Accumulation vs Distribution (Source: Alphractal)

Additionally, STH accumulation has steadily declined since Dec. 5. This weakening demand from these investors aligns with Bitcoin’s recent price volatile movements, demonstrating how their actions can significantly influence market trends.

Bitcoin Short Term Holders — Bitcoin Short-Term Holders Accumulation (Source: Alphractal)

Analyst

Oluwapelumi Adejumo

Journalist at CryptoSlate

Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.