Short-term Bitcoin holder transfers to exchanges peak on Ethereum ETF launch day The overall volume of short-term Bitcoin holders transferring funds to exchanges peaked on Ethereum ETF launch day, July 23, at the highest level since May.
Overall, Bitcoin transfer volumes for both long-term and short-term holders to exchanges showed short-term holders in loss represented a significant portion of transfer activity at 54%, and short-term holders in profit constituted 32%.
Conversely, long-term holders exhibited a more cautious stance at just 13%. Their transfer volume remained low and stable, suggesting a reluctance to sell despite unknown market conditions.
Throughout Bitcoin’s history, short-term holders consistently show more active trading behavior and higher transfer activity than long-term holders. July 24 saw a small 6,000 BTC spike compared to the rest of 2024
This data points to exhibiting short-term profit-taking strategies and cautious long-term investment behavior.
Analyst 
Liam 'Akiba' Wright
Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
Latest Insights
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,541.32
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
