47,300 BTC flowed into exchanges at a loss.
On-chain data shows that most of this selling pressure came from short-term holders. BTC has fallen from above $85,000 to around $74,000, squeezing the unrealized gains of both recent buyers and long-term holders. It is currently trading at $73,878, up a modest 0.6% over the past 24 hours. There is some buying support near the lows, but loss-making holders have yet to finish selling.
Prices are falling, while a concentrated influx of holders selling at a loss is flowing into exchanges. This usually means that coins are changing hands. $BTC
How long will this round of turnover last?
On-chain data shows that most of this selling pressure came from short-term holders. BTC has fallen from above $85,000 to around $74,000, squeezing the unrealized gains of both recent buyers and long-term holders. It is currently trading at $73,878, up a modest 0.6% over the past 24 hours. There is some buying support near the lows, but loss-making holders have yet to finish selling.
Prices are falling, while a concentrated influx of holders selling at a loss is flowing into exchanges. This usually means that coins are changing hands. $BTC
How long will this round of turnover last?