{"id":568943,"date":"2024-01-10T22:00:58","date_gmt":"2024-01-10T22:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=568943"},"modified":"2024-06-11T08:01:09","modified_gmt":"2024-06-11T08:01:09","slug":"sell-bitcoin-short-term-holders-2-billion-selloff","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/sell-bitcoin-short-term-holders-2-billion-selloff\/","title":{"rendered":"Sell The News: Bitcoin Short-Term Holders Participate In $2 Billion Selloff"},"content":{"rendered":"

On-chain data shows that Bitcoin short-term holders have deposited $2 billion in BTC to exchanges, the fourth largest amount in the last two years.<\/p>\n

Bitcoin Short-Term Holder Exchange Inflows Have Spiked Up<\/h2>\n

As analyst James V. Straten explained in a new post<\/a> on X, the BTC short-term holders have potentially participated in a very sizeable selloff recently. The “short-term holders<\/a>” (STHs) are the Bitcoin investors who bought their coins within the last 155 days.<\/p>\n

The STHs comprise one of the two main divisions of the BTC market based on holding time; the other segment is called the “long-term holder<\/a>” (LTH) cohort and includes the holders who mature past the 155-day cutoff.<\/p>\n

Related Reading: Bitcoin Blasts Off As Institutionals Continue Buying On Coinbase<\/a><\/div>\n

Statistically, the probability that a holder would sell or move their coins on the blockchain drops the longer they keep them dormant. As such, the STHs are more likely to participate in selling at any point than the LTHs.<\/p>\n

This behavior of the STHs is usually especially apparent whenever the cryptocurrency observes a sharp rally or crash, as these fickle-minded investors can’t help but fall prey to the FOMO or FUD of the situation.<\/p>\n

One way to track whether the STHs are selling or not is through their exchange inflows<\/a>. Investors may deposit to these central entities when they want to sell, so the volume going to these platforms can naturally provide some measure of the degree of selling pressure the holders are currently exerting.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin STH transfer volume going towards exchanges (in USD) over the past couple of years:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the metric has observed a large spike in recent days | Source: @jimmyvs24 on X<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin volume going from the wallets held by the STHs toward the exchanges has registered a spike recently. “Yesterday, over $2B worth of Bitcoin got sent to exchanges from STHs,” notes Straten.<\/p>\n
From the chart, it’s apparent that during the last couple of years, there have only been three instances where the market saw these weak hands transfer more significant amounts to these platforms.<\/p>\n
According to the analyst, $1.3 billion of the total $2 billion inflow volume from the STHs involved coins carrying some profits. While the rest, $750 million, moved at a loss.<\/p>\n
If these inflows were indeed for selling, it would appear that both types of sellers were in the market during the spike: those capitulating at a loss and those harvesting their profits. Straten remarks that the profitability ratio of this inflow volume is a bit suspicious, as the asset mostly moved flat or negative during this period.<\/p>\n
Related Reading: These Altcoins Are Showing Most Bullish & Bearish Divergences: Santiment<\/a><\/div>\n
This potential selloff from the STHs has come as the Bitcoin spot ETF is not far from being decided by the US SEC. The commission’s X account was also compromised earlier, and someone posted a fake approval announcement using it, to which the market reacted strongly.<\/p>\n
Given the timing of the inflows, it would appear that the BTC STHs expect the event to be a sell-the-news type of deal, so once the decision is made, more inflows could follow.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading at around $45,200, up more than 4% in the past week.<\/p>\n
\"Bitcoin<\/p>\n
The asset's value appears to have gone down over the past day | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows that Bitcoin short-term holders have deposited $2 billion in BTC to exchanges, the fourth largest amount in the last two years. Bitcoin Short-Term Holder Exchange Inflows Have Spiked Up As analyst James V. Straten explained in a new post on X, the BTC short-term holders have potentially participated in a very sizeable selloff recently. The “short-term holders” (STHs) are the Bitcoin investors who bought their coins within the last 155 days. The STHs comprise one of the two main divisions of the BTC market based on holding time; the other segment is called the “long-term holder” (LTH) cohort and includes the holders who mature past the 155-day cutoff. Related Reading: Bitcoin Blasts Off As Institutionals Continue Buying On Coinbase Statistically, the probability that a holder would sell or move their coins on the blockchain drops the longer they keep them dormant. As such, the STHs are more likely to participate in selling at any point than the LTHs. This behavior of the STHs is usually especially apparent whenever the cryptocurrency observes a sharp rally or crash, as these fickle-minded investors can’t help but fall prey to the FOMO or FUD of the situation. One way to track whether the STHs are selling or not is through their exchange inflows. Investors may deposit to these central entities when they want to sell, so the volume going to these platforms can naturally provide some measure of the degree of selling pressure the holders are currently exerting. Now, here is a chart that shows the trend in the Bitcoin STH transfer volume going towards exchanges (in USD) over the past couple of years: Looks like the metric has observed a large spike in recent days | Source: @jimmyvs24 on X As displayed in the above graph, the Bitcoin volume going from the wallets held by the STHs toward the exchanges has registered a spike recently. “Yesterday, over $2B worth of Bitcoin got sent to exchanges from STHs,” notes Straten. From the chart, it’s apparent that during the last couple of years, there have only been three instances where the market saw these weak hands transfer more significant amounts to these platforms. According to the analyst, $1.3 billion of the total $2 billion inflow volume from the STHs involved coins carrying some profits. While the rest, $750 million, moved at a loss. If these inflows were indeed for selling, it would appear that both types of sellers were in the market during the spike: those capitulating at a loss and those harvesting their profits. Straten remarks that the profitability ratio of this inflow volume is a bit suspicious, as the asset mostly moved flat or negative during this period. Related Reading: These Altcoins Are Showing Most Bullish & Bearish Divergences: Santiment This potential selloff from the STHs has come as the Bitcoin spot ETF is not far from being decided by the US SEC. The commission’s X account was also compromised earlier, and someone posted a fake approval announcement using it, to which the market reacted strongly. Given the timing of the inflows, it would appear that the BTC STHs expect the event to be a sell-the-news type of deal, so once the decision is made, more inflows could follow. BTC Price At the time of writing, Bitcoin is trading at around $45,200, up more than 4% in the past week. The asset’s value appears to have gone down over the past day | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>\n","protected":false},"author":542,"featured_media":568973,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,91131,87375,16136,91132,84852,1119,1144],"class_list":["post-568943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-sell-the-news","tag-bitcoin-selling","tag-bitcoin-selloff","tag-bitcoin-short-term-holder-selling","tag-bitcoin-short-term-holders","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nSell The News: Bitcoin Short-Term Holders Participate In $2 Billion Selloff<\/title>\n<meta name=\"description\" content=\"On-chain data shows the 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Sell The News: Bitcoin Short-Term Holders Participate In $2 Billion Selloff","url":"http:\/\/wncen.com\/news\/sell-bitcoin-short-term-holders-2-billion-selloff\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/sell-bitcoin-short-term-holders-2-billion-selloff\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/kanchanara-4KJJezDyo3M-unsplash-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/kanchanara-4KJJezDyo3M-unsplash-1.jpg?fit=6000%2C4000"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin sell the news","bitcoin selling","bitcoin selloff","bitcoin short-term holder selling","bitcoin short-term holders","btc","btcusd"],"dateCreated":"2024-01-10T22:00:58Z","datePublished":"2024-01-10T22:00:58Z","dateModified":"2024-06-11T08:01:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Sell The News: Bitcoin Short-Term Holders Participate In $2 Billion Selloff\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/sell-bitcoin-short-term-holders-2-billion-selloff\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/sell-bitcoin-short-term-holders-2-billion-selloff\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kanchanara-4KJJezDyo3M-unsplash-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kanchanara-4KJJezDyo3M-unsplash-1.jpg?fit=6000%2C4000\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin sell the news\",\"bitcoin selling\",\"bitcoin selloff\",\"bitcoin short-term holder selling\",\"bitcoin short-term holders\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-01-10T22:00:58Z\",\"datePublished\":\"2024-01-10T22:00:58Z\",\"dateModified\":\"2024-06-11T08:01:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/kanchanara-4KJJezDyo3M-unsplash-1.jpg?fit=6000%2C4000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/568943"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=568943"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/568943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/568973"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=568943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=568943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=568943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}