TechFlow reported on November 27, according to CoinDesk, analyst Van Straten cited Glassnode data showing that within the past two days, short-term holders—those who have held Bitcoin for less than 155 days—transferred approximately 83,000 bitcoins worth around $7.8 billion at a loss to centralized exchanges, marking a new all-time high.
Van Straten noted that when short-term holders transfer more than $2 billion worth of Bitcoin at a loss to exchanges, it typically signals the formation of a local bottom. Data shows that currently about 678,000 bitcoins are held at a loss. Bitcoin's current price is only 7% below its all-time high, meaning only investors who bought within the past week are currently in a losing position.
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