Data: Short-term holders transferred nearly $8 billion worth of BTC to CEX in the last 2 days
2024-11-27 12:29:42
Glassnode data display two days short-term hold owner or hold bitcoindesk3cryptocurrencydesktopCrypto News
Over the past two days, short-term holders, or people who have held bitcoin for less than 155 days, sent 83,000 BTC (worth about $7.80 billion) to CEX at a loss, according to Glassnode data. This is the highest number on record, and analysts believe that when this group of people tends to send tokens worth $2 billion or more to the trading platform, it usually marks a short-term bottom. Bitcoin is currently trading only 7% off its all-time high, and investors who bought in the past week are the only entities that will lose money.
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