Short-term holders spark Bitcoin sell-off: Over $2 billion shed at loss to exchanges

exchange68September 11, 2024

0 0 2 minutes read

Bitcoin’s recent 10% downturn has the market on edge, with prices now hovering around $63,000. This decline has been influenced by higher than expected U.S. inflation rates and heightened geopolitical tensions, affecting global financial indicators like the DXY index. Amidst this market unrest, a significant pattern has emerged: short-term holders are rapidly offloading their Bitcoin at a loss, with data indicating a record-breaking amount transferred to exchanges. But what does this massive sell-off reveal about the market’s next potential move?

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