Analyst: Short-term bitcoin holders tend to take profits, over 27,000 BTC transferred to exchanges in the past 24 hours
BlockBeats News, March 6, CryptoQuant analyst Darkfost stated in a post, "Despite a slight rebound in bitcoin, short-term holders (STH) do not seem convinced and are more inclined to take quick profits. In the past 24 hours, STHs have transferred more than 27,000 BTC to exchanges, which is at a high level in recent months.
Currently, the only STHs able to realize profits are investors who accumulated positions one week to one month ago, with their realized price around $68,000. The current news flow and macroeconomic expectations remain negative in the short term, so this behavior is somewhat understandable and relatively rational. At present, this constitutes a sell pressure signal worth noting, as STHs do not seem ready to hold positions for the long term."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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