Bitcoin short-term holders send 47K BTC to exchanges at a loss
Summary
Short-term Bitcoin holders sent 47,025 BTC at an unrealized loss to exchanges in the 24 hours to Wednesday, one of the largest such inflows in CryptoQuant’s four-month dataset. The transfers came as BTC fell to $72,670, its lowest price since August 20. CryptoQuant said loss-making transfers outnumbered profitable ones by about 27 to 1 on November 10. Short-term holders’ average cost basis is around $75,700. Research head Julio Moreno said a sustained break below $73,000 followed by a failed recovery could support the case that Bitcoin’s downtrend is continuing.
