Over 20,000 coins sold at a loss, marking one of the highest sell-offs this year
In the world of Bitcoin, recent trends have shown that short-term holders continue to capitulate, even as Bitcoin trades briefly just below $29,000.
This trend has led to over 20,000 coins being sold at a loss, marking one of the highest levels of capitulation this year from short-term holders.
Just five days ago, CryptoSlate pointed out that short-term holders capitulated when Bitcoin fell under $30,000.
Interestingly, the same trend has emerged again, reinforcing the volatility in the Bitcoin market.
The most recent sell-off has predominantly involved buyers who purchased Bitcoin around $30,000 and slightly higher in the past few weeks, suggesting a pattern of panic selling whenever the value drops below this psychological threshold.
