{"id":601365,"date":"2024-04-04T17:30:44","date_gmt":"2024-04-04T17:30:44","guid":{"rendered":"https:\/\/wncen.com\/?p=601365"},"modified":"2024-06-11T08:27:43","modified_gmt":"2024-06-11T08:27:43","slug":"bitcoin-short-term-holders-5-2-sold-loss","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-short-term-holders-5-2-sold-loss\/","title":{"rendered":"Bitcoin Short-Term Holders Capitulate: $5.2 Billion Sold At Loss"},"content":{"rendered":"

On-chain data shows the recent Bitcoin drawdown has shaken up the short-term holders, leading them to make large exchange deposits at a loss.<\/p>\n

Bitcoin Short-Term Holders Have Transferred Huge Volume In Loss To Exchanges<\/h2>\n

As analyst James Van Straten pointed out in a post<\/a> on X, the BTC short-term holders have recently participated in a large amount of loss-taking. The “short-term holders<\/a>” (STHs) are the Bitcoin investors who bought their coins within the past 155 days.<\/p>\n

The STHs make up one of the two main divisions of the BTC market, which is done on the basis of holding time, with the other cohort being known as the long-term holders<\/a> (LTHs).<\/p>\n

Related Reading: Bitcoin Traders No Longer Extremely Greedy: Rebound Signal?<\/a><\/div>\n

Statistically, the longer an investor holds onto their coins, the less likely they become to sell them at any point. As such, the STHs would reflect the weak-minded side of the market, while the LTHs would be the persistent diamond hands.<\/p>\n

Given their fickle nature, the STHs usually easily react whenever a notable sector change occurs, like a price rally or crash. Recently, BTC has registered a significant drawdown, so these investors would likely have made some moves.<\/p>\n

Indeed, on-chain data would confirm this. Below is a Glassnode chart shared by Straten, which reveals the trend in the transfer volume in loss (in USD) going from the wallets of the STHs to centralized exchanges.<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric appears to have been quite high in recent days | Source: @jvs_btc on X<\/a><\/pre>\n
As displayed in the above graph, Bitcoin short-term holders have recently deposited a large number of tokens holding a loss into exchange-affiliated wallets.<\/p>\n
Exchange inflows usually suggest demand for using the services these platforms provide, which can include selling. As these latest deposits from the STHs have come following a sharp drop in the price, it would appear possible that the panic-sellers indeed made these inflows.<\/p>\n
As the Bitcoin price is currently near the all-time high (ATH), most of the STH group would be holding a profit. So, all this loss volume can only come from those who bought at the recent highs.<\/p>\n
This isn’t the first time the market has observed such quick capitulation from FOMO buyers this year. The chart shows that the exchange transfer volume in loss from the STHs also spiked very high during the plunge that followed the latest price ATH.<\/p>\n
The spike back then was even greater in scale than the one witnessed recently and suggested the shakeout of the holders who the news of the ATH had driven in.<\/p>\n
Related Reading: Bitcoin Supply In Loss Hits 10% After Crash: What Happened Last Time<\/a><\/div>\n
In the latest capitulation event, the Bitcoin STHs have deposited $5.2 billion worth of underwater coins to the exchanges within a two-day window.<\/p>\n
BTC Price<\/h2>\n
Since the plunge a few days ago, Bitcoin has been unable to find any significant upward momentum, as its price has only been able to recover to $66,500.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the price of the asset has been trading sideways over the last few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Shutterstock.com, Glassnode.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the recent Bitcoin drawdown has shaken up the short-term holders, leading them to make large exchange deposits at a loss. Bitcoin Short-Term Holders Have Transferred Huge Volume In Loss To Exchanges As analyst James Van Straten pointed out in a post on X, the BTC short-term holders have recently participated in a large amount of loss-taking. The “short-term holders” (STHs) are the Bitcoin investors who bought their coins within the past 155 days. The STHs make up one of the two main divisions of the BTC market, which is done on the basis of holding time, with the other cohort being known as the long-term holders (LTHs). Related Reading: Bitcoin Traders No Longer Extremely Greedy: Rebound Signal? Statistically, the longer an investor holds onto their coins, the less likely they become to sell them at any point. As such, the STHs would reflect the weak-minded side of the market, while the LTHs would be the persistent diamond hands. Given their fickle nature, the STHs usually easily react whenever a notable sector change occurs, like a price rally or crash. Recently, BTC has registered a significant drawdown, so these investors would likely have made some moves. Indeed, on-chain data would confirm this. Below is a Glassnode chart shared by Straten, which reveals the trend in the transfer volume in loss (in USD) going from the wallets of the STHs to centralized exchanges. The value of the metric appears to have been quite high in recent days | Source: @jvs_btc on X As displayed in the above graph, Bitcoin short-term holders have recently deposited a large number of tokens holding a loss into exchange-affiliated wallets. Exchange inflows usually suggest demand for using the services these platforms provide, which can include selling. As these latest deposits from the STHs have come following a sharp drop in the price, it would appear possible that the panic-sellers indeed made these inflows. As the Bitcoin price is currently near the all-time high (ATH), most of the STH group would be holding a profit. So, all this loss volume can only come from those who bought at the recent highs. This isn’t the first time the market has observed such quick capitulation from FOMO buyers this year. The chart shows that the exchange transfer volume in loss from the STHs also spiked very high during the plunge that followed the latest price ATH. The spike back then was even greater in scale than the one witnessed recently and suggested the shakeout of the holders who the news of the ATH had driven in. Related Reading: Bitcoin Supply In Loss Hits 10% After Crash: What Happened Last Time In the latest capitulation event, the Bitcoin STHs have deposited $5.2 billion worth of underwater coins to the exchanges within a two-day window. BTC Price Since the plunge a few days ago, Bitcoin has been unable to find any significant upward momentum, as its price has only been able to recover to $66,500. Looks like the price of the asset has been trading sideways over the last few days | Source: BTCUSD on TradingView Featured image from Shutterstock.com, Glassnode.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":601400,"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":[428,83676,86685,88429,87375,16136,84852,1119,1144],"class_list":["post-601365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-capitulation","tag-bitcoin-loss","tag-bitcoin-loss-selling","tag-bitcoin-selling","tag-bitcoin-selloff","tag-bitcoin-short-term-holders","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Short-Term Holders Capitulate: $5.2 Billion Sold At Loss<\/title>\n<meta name=\"description\" content=\"On-chain data 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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":"Bitcoin Short-Term Holders Capitulate: $5.2 Billion Sold At Loss","url":"http:\/\/wncen.com\/news\/bitcoin-short-term-holders-5-2-sold-loss\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-short-term-holders-5-2-sold-loss\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/shutterstock_2249349829.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/shutterstock_2249349829.jpg?fit=3091%2C2061"},"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 capitulation","bitcoin loss","bitcoin loss selling","bitcoin selling","bitcoin selloff","bitcoin short-term holders","btc","btcusd"],"dateCreated":"2024-04-04T17:30:44Z","datePublished":"2024-04-04T17:30:44Z","dateModified":"2024-06-11T08:27:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Short-Term Holders Capitulate: $5.2 Billion Sold At Loss\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-short-term-holders-5-2-sold-loss\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-short-term-holders-5-2-sold-loss\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/shutterstock_2249349829.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/shutterstock_2249349829.jpg?fit=3091%2C2061\"},\"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 capitulation\",\"bitcoin loss\",\"bitcoin loss selling\",\"bitcoin selling\",\"bitcoin selloff\",\"bitcoin short-term holders\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-04-04T17:30:44Z\",\"datePublished\":\"2024-04-04T17:30:44Z\",\"dateModified\":\"2024-06-11T08:27:43Z\"}<\/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\/04\/shutterstock_2249349829.jpg?fit=3091%2C2061","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601365"}],"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=601365"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/601400"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=601365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=601365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=601365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}