Short-term holders continue to capitulate

exchange68September 12, 2024

0 0 1 minute read

Quick Take

In the world of Bitcoin, recent trends have shown that short-term holders continue to capitulate, even as Bitcoin trades briefly just below $29,000.

This trend has led to over 20,000 coins being sold at a loss, marking one of the highest levels of capitulation this year from short-term holders.

Just five days ago, CryptoSlate pointed out that short-term holders capitulated when Bitcoin fell under $30,000.

Interestingly, the same trend has emerged again, reinforcing the volatility in the Bitcoin market.

The most recent sell-off has predominantly involved buyers who purchased Bitcoin around $30,000 and slightly higher in the past few weeks, suggesting a pattern of panic selling whenever the value drops below this psychological threshold.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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