INSUBCONTINENT EXCLUSIVE:
Key takeaways:Short-term Bitcoin holders sold 15,000 BTC at a loss throughout the week
Bitcoin (BTC) is experiencing a relatively subdued week, as armed conflict between Israel and Iran and uncertainty ahead of the FOMC led
investors and traders to stay sidelined
Despite the quiet markets, onchain data from CryptoQuant revealed a notable development, which saw over 15,000 BTC held by short-term
holders (STHs) move at a loss this week.BTC Short-Term Holder Losses To Exchanges In 24 Hours
Source: CryptoQuantAccording to Glassnode data, 959 BTC were transferred to exchanges at a loss on Monday, which surged to 16,700 BTC by
frequently realizing losses.This selling behavior represents heightened STH activity during market dips
market stabilization and a more resilient price base.Notably, the overall supply held by STHs has declined, especially following significant
This gradual reduction in weak-hand selling pressure opens opportunities for accumulation and may indicate the emergence of a price
floor.STH-LTH Net Position Change Comparison
Source: CryptoQuantFurther insights can be drawn from the STH-LTH net position change chart, which shows aggressive selling by STHs over the
market, according to a data analysis platform, Swissblock
Data reveals a persistent negative spot volume delta since June, signaling selling pressure despite a recent price rebound driven by low
Source: Swissblock/XConsidering a short-term dip occurs before a rally, Bitcoin's onchain cost-basis for short-term holders outlines a
support range between $97,000 and $94,000
This range could be the local bottom, sweeping key liquidation levels under $100,000 and re-testing a fair value gap (FVG) and daily order
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