CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Bitcoin short-term holders send 47K BTC to exchanges at a loss

Cointelegraph logo

Published on

Add as a preferred source on Google
Bitcoin short-term holders send 47K BTC to exchanges at a loss

Bitcoin fell to an 11-week low of $72,670 after slipping below short-term holders’ average cost basis of about $75,700, according to CryptoQuant.

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.

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, its lowest level since Aug. 20.

The short-term holder metric tracks Bitcoin held for up to 155 days. Short-term holders are generally considered more likely to sell when prices fall, even at a loss.

“On November 10, profitable transfers stood near 1,700 BTC, meaning approximately 27 BTC arrived at a loss for every 1 BTC transferred at a profit,” CryptoQuant said.

The largest 24-hour inflows of BTC carrying unrealized losses since late July occurred on Oct. 8, hours after Bitcoin fell back to $80,000. Rolling 24-hour inflows peaked at 50,500 BTC.

Cointelegraph previously reported that short-term holders’ average cost basis was around $75,700.

Related: Stock ETF buyers pounce on dip as Bitcoin funds bleed $1.6 billion

Short-term holders moved into an aggregate unrealized profit on Aug. 20 as Bitcoin rebounded toward $80,000. They slipped back into an aggregate unrealized loss on Friday.

CryptoQuant head of research Julio Moreno said Bitcoin could still be in the downtrend that began in November 2025.


Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.