Short-term bitcoin holders transferred about $2.20 billion worth of bitcoin to the trading platform on Monday

Short-term holders of bitcoin exited the market at a loss on Monday as the price fell, while derivatives traders also cut their losses, causing the Chicago Mercantile Exchange's unpositioned squaring futures contracts to drop significantly.
According to Glassnode's definition, short-term holders are addresses that have held bitcoin for less than 155 days. The data shows that these addresses transferred more than 21,000 BTC (about $2.20 billion) to the trading platform during the 4.7% drop in bitcoin price, the largest drop in two weeks, and sold it at a loss. The number of bitcoins transferred to the trading platform was the second largest this month, which may reflect that investors who bought bitcoin at the beginning of the year when the price was near its all-time high (about $108,000) panicked when the price suddenly fell back below $100,000.