Bitcoin Short-Term Holders Send $3.6 Billion in BTC to Exchanges at a Loss

Recent Bitcoin buyers have moved roughly 47,300 BTC to exchanges at a loss in 24 hours, as the price fell towards $74,000. The transfers may signal potential selling pressure, but they do not show that the coins were sold; deposits can also be used for trading or other services.

CryptoQuant put total inflows at about 48,500 BTC, worth around $3.6 billion, with only about 1,100 BTC transferred at a profit. Its analysis recorded two large waves of loss-making deposits in the previous week: 50,790 BTC on 3 November and 46,060 BTC on 10 November. Short-term holders are generally those holding for under 155 days, while Glassnode estimates that longer-term investors also hold about 4 million BTC bought between $85,000 and $118,000.