Recent Bitcoin holders sell $770M BTC at a loss amid $65K BTC price calls

Bitcoin (BTC) terms dropped to $76,500 connected Monday, erasing astir each of this month’s gains arsenic caller US-Iran warfare tensions soured the crypto marketplace sentiment. This has led investors and traders to reevaluate their risks and enactment cautious, with galore caller buyers selling their BTC astatine a loss.

Key takeaways:

• Bitcoin short-term holders sold implicit 10,000 BTC worthy astir $770 cardinal astatine a nonaccomplishment connected Monday.
• Analysts hold that pushing Bitcoin’s terms beneath $76,000 could trigger a caller downtrend toward $65,000-$70,000.

Bitcoin's “weak hands” realizing losses

Bitcoin has retraced 7% from its local precocious of $82,800 acceptable connected May 6. The rejection from the 200-day moving averages astatine $82,000, the regular adjacent beneath the existent marketplace mean, and the short-term holder outgo ground astir $78,000 person cemented a much risk-off stance among Bitcoin investors.

Related: Bitcoin’s trend-defining conflict starts astatine $74K support: Analyst

Onchain information from CryptoQuant showed that much than 10,000 BTC were transferred by short-term holders — investors who person held the plus for little than 155 days — to Binance astatine a nonaccomplishment connected Monday.

These moves occurred with Bitcoin astatine astir $76,900, astir 2% beneath their mean acquisition terms of $78,440, suggesting that caller buyers sent astir $769 cardinal successful BTC to Binance astatine a loss.

This “reflects short-term holder stress, forced selling, oregon capitulation from weaker hands during a correction,” CryptoQuant expert Amr Tah said successful a QuickTake station connected Tuesday.

Bitcoin: Transfer measurement by STH successful nonaccomplishment to Binance. Source: CryptoQuant

This enactment underscores a acquainted signifier of short-term speculators panic-selling during marketplace dips, often realizing losses.

A akin occurrence successful mid-November 2025 preceded a 15% BTC terms diminution to $78,400 from $96,000 successful little than 5 days.

Additional information from Glassnode shows that much than “7.8M BTC are presently held astatine a loss," a proviso overhang that the marketplace would request to “absorb earlier immoderate sustained determination higher becomes structurally credible.”

BTC full proviso successful loss. Source: Glassnode

Also accompanying Bitcoin’s slump are heavy outflows from US-based spot Bitcoin exchange-traded funds (ETFs), which person recorded antagonistic flows for six retired of the past 8 days.

These concern products saw $648.6 cardinal successful nett outflows connected Monday, the largest withdrawal since Jan. 29.

Spot Bitcoin ETF flows table. Source: Farside Investors 

Global Bitcoin concern products besides recorded $981.5 cardinal successful nett outflows during the week ending May 15, suggesting declining organization appetite for BTC.

“Markets are getting perfectly hammered,” expert Alek_Carter said successful an X station connected Tuesday, referring to the ample outflows from Bitcoin concern products, adding:

“Money is rotating retired fast, panic is creeping in, and traders are intelligibly hitting the risk-off fastener hard.”

As Cointelegraph reported, record-low retail capitalist activity, assertive selling successful the futures markets and weakening spot request are pulling down Bitcoin's terms to caller May lows.

How debased tin Bitcoin terms go?

The Bitcoin HODL Waves indicator, which tracks the property organisation of BTC holdings, suggests Bitcoin could bottommost astatine $65,500-$70,500 if existent marketplace weakness continues. 

Historically, spikes successful semipermanent holder enactment and declining short-term speculation person coincided with large marketplace bottoms earlier recoveries.

The illustration beneath shows a stronger semipermanent holder basal (the blue/purple bands are noticeably thicker), “reflecting increasing organization adoption,” CryptoQuant expert Sunny Mom said successful a Quicktake investigation connected Tuesday. 

This suggests that the proviso operation is structurally stronger successful the existent rhythm than before, “which changes however BTC forms its bottom,” the expert said, adding:

“Our predicted terms scope for this cycle's bottommost is $65.9K–$70.5K. If $70.5K holds, we’ll dilatory grind retired a bottommost successful the precocious range.”

Bitcoin HODL question indicator. Source: CryptoQuant 

From a method perspective, Bitcoin is printing the 5th consecutive regular reddish candle, suggesting that the “momentum is starting to displacement backmost to the bears,” expert Alex Marzell said connected Monday successful a station connected X, adding:

“Bitcoin whitethorn travel backmost to retest the breakout portion astir $70K support.”

Echoing this sentiment, MN Capital laminitis Michael van de Poppe said this “doesn't look great” for Bitcoin, adding that the terms needs to clasp enactment astatine $74,500-$76,000 “in bid to get backmost immoderate momentum successful the markets.”

“If this country doesn't hold, past we're astir apt cascading done the lows of the caller rally and trial <$65,000 for support.” 

BTC/USD regular chart. Source: X/Michael van de Poppe

As Cointelegraph reported, a interruption beneath the 50-day SMA astatine $76,000 would summation the hazard of the BTC/USDT brace dropping to $65,000. successful the abbreviated term.