55,600 BTC hit exchanges at a loss on Thursday.
That is more loss-driven selling than Bitcoin saw on June 26, when it traded below $60K. Now it is around $82,400. Same capitulation behavior, 36% higher prices.
The number comes from CryptoQuant contributor Amr Taha, via Cointelegraph. Loss transfers mean coins landing on exchanges below what their holder paid, and the CryptoQuant read is blunt: aggressive loss-selling by short-term holders tends to coincide with short-term capitulation. Weak hands exhaust themselves first.
Glassnode explains why this one stung. The Week Onchain found just $4.9B of real new money reached Bitcoin in the 30 days to Oct 5, versus a $12.8B jump in realized cap. Three-fifths of the rally was paid for by existing holders trading among themselves. So when the tape turned, there was no fresh bid underneath it. Only the same holders rushing the door.
$BTC $ETH
That is more loss-driven selling than Bitcoin saw on June 26, when it traded below $60K. Now it is around $82,400. Same capitulation behavior, 36% higher prices.
The number comes from CryptoQuant contributor Amr Taha, via Cointelegraph. Loss transfers mean coins landing on exchanges below what their holder paid, and the CryptoQuant read is blunt: aggressive loss-selling by short-term holders tends to coincide with short-term capitulation. Weak hands exhaust themselves first.
Glassnode explains why this one stung. The Week Onchain found just $4.9B of real new money reached Bitcoin in the 30 days to Oct 5, versus a $12.8B jump in realized cap. Three-fifths of the rally was paid for by existing holders trading among themselves. So when the tape turned, there was no fresh bid underneath it. Only the same holders rushing the door.
$BTC $ETH