Sell The News: Bitcoin Short-Term Holders Participate In $2 Billion Selloff
Summary
Bitcoin short-term holders have deposited $2 billion in BTC to exchanges, the fourth largest amount in the last two years. Short-term holders are more likely to sell than long-term holders. The recent spike in BTC inflows to exchanges suggests potential selling pressure. $1.3 billion of the inflow involved profitable coins, while $750 million moved at a loss. This potential selloff coincides with the pending decision on a Bitcoin spot ETF by the US SEC, indicating a "sell-the-news" expectation. Bitcoin is currently trading at around $45,200, up more than 4% in the past week.
