Bitcoin selloff by short-term holders spikes amid market fears, data shows high volume of losses in 2023 
Quick Take
A closer examination of the roughly 8,000 Bitcoins (BTC) transferred into exchanges on Oct. 12 reveals a heightened sense of trepidation among short-term holders, affirmed by trading activities highlighted in CryptoSlate insights earlier today, Oct. 12.
Large-scale ‘whale’ activity, a trend seen throughout 2023, has often coincided with Bitcoin price fluctuations without an exclusive link to bullish or bearish events. However, short-term holders (STH) also play a crucial role in the Bitcoin economy.
Defined as investors who have retained Bitcoin for fewer than 155 days, STHs are often viewed as more speculative than long-term holders as they are often more price sensitive.
STH Bitcoin holders sold approximately 24,000 BTC at a loss to exchanges under unfavorable conditions. This activity marks the second-highest volume this year. Further, these investors typically entered the market when Bitcoin was trading above $29,000 back in July and August.
The dread within the market was only more intense once this year on Aug. 17. On this day, the Bitcoin market took a significant hit, with the value plummeting from $30,000 to $26,000. Consequently, around 30,000 BTC were sold at a loss by the same cohort.
Notably, the FTX collapse in November 2022 saw STH transfers peak to around 65,000 BTC.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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