The SEC's recent lawsuits against Binance and Coinbase have sparked a significant change in the crypto market, particularly affecting short-term holders. These market participants, holding onto their coins for less than 155 days, act as an early warning system for larger shifts in market sentiment. With a sudden spike in short-term Bitcoin deposits on exchanges following the lawsuits, historical data reveals that such events have correlated with high-volatility outcomes. So, what does this mean for the future of the crypto market and how can investors prepare for the potential impact...
Short-term holders react swiftly to SEC lawsuits, sending Bitcoin deposits soaring on exchanges Short-term holders react swiftly to SEC lawsuits, sending Bitcoin deposits soaring on exchanges
Short-term holders were responsible for 76% of all Bitcoin deposits in the past week, showing the impact the SEC's lawsuits had on the cohort.
2 min read
Updated: Jun. 14, 2023 at 10:16 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
