Add as a preferred source on GoogleBitcoin (BTC) Short-Term Holders Send More Than 36,600 BTC to Exchanges at a Loss
Binance’s seven-day cumulative inflows from short-term holders reached 45,400 BTC, an October high, despite exploit-linked BTC outflows.
Bitcoin (BTC) tested $76,000 on Oct. 30 as short-term holders moved more than 36,600 BTC to exchanges at a loss over 24 hours.
On Binance, short-term holders’ seven-day cumulative inflows reached 45,400 BTC, an October high. The increase came even as BTC flowed out of Binance in connection with an exploit. The two figures cover different windows: 24 hours for loss-making transfers and seven days for Binance inflows.
Rising inflows and loss-making transfers showed short-term holders were under pressure. Deeper capitulation can mean a pullback is nearing an extreme and short-term momentum may shift.
A separate seven-day average of short-term holders’ net profit and loss on exchange transfers was -3,022 on Oct. 30, its first negative reading since Aug. 18, after standing at +21,182 on Oct. 24. That measure tracks net profit or loss on Bitcoin moved to exchanges. Transfers to exchanges show coins arriving at trading venues; they do not establish that a sale occurred.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.