š Bitcoin short-term holders send 47K BTC to exchanges at a loss
Bitcoin short-term holders moved 47,025 BTC to exchanges in the 24 hours to midnight UTC on Wednesday while those coins were worth less than their purchase price, CryptoQuant data shows. It was the third-largest such 24-hour total since July, as BTC slid to an 11-week low of $72,670, its lowest since Aug. 20.
The drop took price below short-term holders' average cost basis of about $75,700. CryptoQuant said that on Nov. 10, roughly 27 BTC arrived on exchanges at a loss for every 1 BTC sent at a profit.
ā CryptoQuant's Julio Moreno says a sustained break below $73,000 and a failed retest from below would strengthen the case for bear-market continuation, making that level the one traders are watching.
#Bitcoin #BTC #OnChain #CryptoQuant #CryptoMarket
Bitcoin short-term holders moved 47,025 BTC to exchanges in the 24 hours to midnight UTC on Wednesday while those coins were worth less than their purchase price, CryptoQuant data shows. It was the third-largest such 24-hour total since July, as BTC slid to an 11-week low of $72,670, its lowest since Aug. 20.
The drop took price below short-term holders' average cost basis of about $75,700. CryptoQuant said that on Nov. 10, roughly 27 BTC arrived on exchanges at a loss for every 1 BTC sent at a profit.
ā CryptoQuant's Julio Moreno says a sustained break below $73,000 and a failed retest from below would strengthen the case for bear-market continuation, making that level the one traders are watching.
#Bitcoin #BTC #OnChain #CryptoQuant #CryptoMarket
