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Bitcoin (BTC) short-term holders sent more than 47,000 BTC to exchanges on Tuesday as Bitcoin fell to an 11-week low, with the coins worth less than their purchase price.
Key points:
- Short-term holders moved 47,025 BTC to exchanges while the coins were worth less than their acquisition price.
- The 24-hour total was the third-highest since July, according to CryptoQuant.
- CryptoQuant’s Julio Moreno said a sustained break below $73,000 and a failed rebound above that level would strengthen the case that Bitcoin’s broader downtrend was continuing.
Short-term holders’ underwater exchange inflows rank third since July
Data from onchain analytics platform CryptoQuant showed short-term holders sent 47,025 BTC carrying unrealized losses to exchanges in the 24 hours to midnight UTC at the start of Wednesday.
The tally was among the largest 24-hour totals in the four months of data tracked by CryptoQuant and came as Bitcoin dropped to $72,670,…
