Data: Yesterday, short-term Bitcoin holders transferred BTC worth approximately 2.3 billion USD to trading platforms

2024-11-01 19:40:49

Collection

ChainCatcher news, according to Coindesk, short-term Bitcoin holders transferred approximately $2.3 billion worth of Bitcoin to exchanges yesterday, marking the highest record since the closure of yen arbitrage trading on August 5.

Analyst Van Straten stated that the drop in Bitcoin on Thursday triggered panic selling among short-term holders. This panic selling is the most severe since the closure of yen arbitrage trading on August 5. Short-term holders (investors holding Bitcoin for less than 155 days) often feel panic and sell when prices drop, while buying during market greed.

On Thursday, a total of over 54,000 BTC was transferred to exchanges, the highest amount since March 27. In the past three days, short-term holders sent over $6 billion worth of Bitcoin to exchanges to take profits and lock in gains by the end of the month.

(Source Link)

Related tags

Bitcoin Bitcoin price BTC

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.