Part 1 Advanced The Market Maker’s Exchange Checklist (Liquidity, Latency, and Risk Controls) Market makers and HFT desks: evaluate exchanges on execution quality, liquidity, latency, fees, margin, and security — with a WhiteBIT walkthrough. Open guide Short-term holders rush to sell Bitcoin amid market pump
Profit-taking frenzy by short-term Bitcoin holders revealed in Glassnode data
Quick Take
As Bitcoin reached a notable milestone of $35,000, up 20% in the past five days, it marked the fourth largest instance of profit-taking by short-term holders, classified as those who have held Bitcoin for less than six months and transferred approximately 28,000 Bitcoin to exchanges for profit.

The dwindling supply by short-term holders, now standing at around 2.35 million BTC, echoes a progressive decrease in this cohort's impact on the market, particularly when compared to long-term holders, who now occupy almost 15 million of the Bitcoin supply.
This shift is essential because about 11.5 million BTC, currently held by long-term holders, are profitable. Interestingly, this was also the scenario in May 2022, right before the Luna collapse.


















