Short-term holders continue to capitulate

Over 20,000 coins sold at a loss, marking one of the highest sell-offs this year

This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Make preferred on Google logo

Quick Take

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.

STH to exchanges: (Source: Glassnode)
STH to exchanges: (Source: Glassnode)