Bitcoin's short-term holder (STH) loss-related inflow indicator on Binance fell to −9,500 BTC on November 6, surpassing its −9,240 BTC reading on August 11 in magnitude by 260 BTC, or 2.8%.

Bitcoin was trading near $75,500.

The metric tracks Bitcoin transfers from short-term holders to Binance under profit-and-loss conditions.

Negative readings indicate loss-related exchange inflow pressure, not confirmed spot sales.

The renewed pressure follows the November 3 US midterm elections, in which Democrats won control of both chambers of Congress.

The result has raised uncertainty over crypto market-structure legislation after the CLARITY Act stalled, while discussions of an alternative framework could give the SEC a larger oversight role relative to the CFTC.

No replacement bill has been enacted.

Risk appetite also deteriorated on November 5. The S&P 500 fell about 4.4%, erasing an estimated $2.9 trillion in market value, while the Nasdaq 100 shed roughly $2.5 trillion.

These figures overlap and should not be added together.

Investors worried that tighter scrutiny of AI data-center expansion could slow infrastructure spending, alongside broader concerns over AI valuations.

The timing does not establish that political developments or the equity selloff caused the Bitcoin transfers. Still, the move beyond August's loss-pressure reading points to renewed caution among some short-term holders.

A shift in investor sentiment toward fear may be prompting some holders to transfer Bitcoin to Binance ahead of potential sales, favoring reduced exposure to crypto assets over additional risk.

Written by Amr Taha