BlockTrends Research Director: $2.4 billion worth of Bitcoin held for less than six months was transferred during the price drop

ChainCatcher news, according to data released by Cauê Oliveira, research director and on-chain analyst at BlockTrends, new investors are capitulating, increasing selling pressure. Approximately $2.4 billion worth of Bitcoin (held for 3 to 6 months) was transferred during the price decline. This selling pressure comes from entities that purchased Bitcoin at the beginning of the year, likely investors speculating through ETFs and the halving.

Although these entities can be classified as "long-term" holders, their behavior resembles that of short-term investors, as they only entered the market at the beginning of the year. On the other hand, entities holding for over a year have not shown significant selling patterns, indicating that true long-term holders are still holding their coins.