Bitcoin's recent plunge has everyone talking, but it's the behind-the-scenes metrics that reveal the true story. Our analysis unravels the impact of short-term holders offloading their assets, causing a downward pressure. An intriguing metric gives us insight into the bias of on-chain value settled by these holders. As Bitcoin teetered around $25,700, a significant shift was noticed... So, what does this mean for Bitcoin's future? And how are long-term holders responding differently to this market turbulence
Short-term holders bear the brunt of Bitcoin’s volatility Short-term holders bear the brunt of Bitcoin’s volatility
On-chain metrics reveal short-term holders offloading Bitcoin, impacting market dynamics.
2 min read
Updated: Sep. 7, 2023 at 2:22 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.