Short-term holders continue to capitulate

quick take

In the bitcoin world, recent trends show that short-term holders continue to capitulate even as bitcoin temporarily trades below $29,000.

The trend has seen over 20,000 coins sold at a loss, making it one of the highest levels of surrender by short-term holders this year.

Just five days ago, CryptoSlate noted that short-term holders capitulated when Bitcoin fell below $30,000.

Interestingly, the same trend has resurfaced, increasing Bitcoin market volatility.

The recent sell-off has largely involved buyers who have bought bitcoin at around $30,000 or slightly higher in the past few weeks, suggesting a pattern of panic selling whenever value falls below this psychological threshold.

STH to Exchange: (Source: Glassnode)

The post “Short-Term Holders Continue to Surrender” first appeared on CryptoSlate.

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