Short-Term Bitcoin Holders Have Moved Nearly $8B Worth of BTC to Exchanges, Signaling Price Bottom: Van Straten

Bitcoin (BTC) volatility is backmost and investors person 2 choices either clasp the volatility oregon person nary portion of it. However, the existent bitcoin rhythm has been alternatively muted successful presumption of realized volatility and drawdowns compared to erstwhile ones. The caller driblet from astir $100,000 to astir $90,000, conscionable shy of a 10% correction, has kept investors connected their toes. Over the past 2 days, Glassnode information shows that short-term holders oregon those that person held bitcoin for little than 155 days, person sent $7.8 cardinal oregon 83,000 BTC to exchanges astatine a nonaccomplishment implicit the past 2 days. In notional terms, this is the highest fig connected record. When this cohort tends to nonstop $2 cardinal oregon much worthy of tokens to exchanges, astatine a loss, it mostly marks a section bottom. With bitcoin changing hands astatine 7% distant from its all-time high, investors that person bought successful the past week are the lone entity that would beryllium sitting successful a loss.

Glassnode information shows that astir 678,000 bitcoin are sitting successful a loss. This comes aft grounds notional profit-taking arsenic bitcoin approached $100,000.