Bitcoin Short-Term Holders Were Behind The Selloff To Below $36k

2022-5-7 22:00

On-chain data shows Bitcoin short-term holders seem to have been behind the latest selloff that has taken the price of the crypto below $36k.

Bitcoin Investors Holding Coins Aged Between 1 Day And 6 Months Sold Big Yesterday

As pointed out by an analyst in a CryptoQuant post, short-term holders seem to have sold the heaviest during the recent selloff.

The relevant indicator here is the “exchange inflow,” which measures the total amount of coins moving into exchange wallets.

A modification of this metric is the “exchange inflow spent output age bands.” it tells us how much the different Bitcoin holder groups are contributing to the inflow.

The various groups are divided based on how many days the investors held their coins before transferring them to the exchange.

The 1-day to 6-month coin age group is generally considered the “short-term holders” (STH). This cohort is usually the likeliest to sell their coins.

All investors holding their Bitcoin for longer periods of time are the “long-term holders” (LTH). Now, here is a chart that shows the trend in the below 6-month and between 6 to 18-month age group inflows over the last few months:

Looks like STH inflows spiked up recently | Source: CryptoQuant

As you can see in the above graph, the 1-day to 6-month coin age group sent a large amount of coins just yesterday.

The inflow spike amounted to more than 60k coins being transferred by this group. Investors usually send their Bitcoin to exchanges for selling purposes, hence these coins took part in the selloff that has now taken the price below $36k.

Related Reading | One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up

The 6-month to 18-month group, on the other hand, doesn’t seem to have moved too many coins over the past day.

The older Bitcoin LTH groups have also not shown much activity recently. The below chart shows the trend in their inflows.

The 1.5-year to 3-year cohort only looks to have sold around 500 BTC yesterday | Source: CryptoQuant

From these trends, it seems like the only investors that took part in the selling yesterday were the short-term holders, who are generally the more fickle ones. The long-term holders still look to be holding strong.

Related Reading | Bitcoin Long Squeeze Incoming? Funding Rates Surge Up

BTC Price

At the time of writing, Bitcoin’s price floats around $35.8k, down 8% in the last seven days. Over the past month, the crypto has lost 21% in value.

The below chart shows the trend in the price of the coin over the last five days.

The price of Bitcoin seems to have plummeted down over the past day | Source: BTCUSD on TradingView

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

origin »

Bitcoin (BTC) íà Currencies.ru

$ 94829.76 (-0.62%)
Îáúåì 24H $53.922b
Èçìåíåèÿ 24h: 3.31 %, 7d: -3.68 %
Cåãîäíÿ L: $91951.2 - H: $95752.95
Êàïèòàëèçàöèÿ $1878.044b Rank 1
Öåíà â ÷àñ íîâîñòè $ 36002.73 (163.4%)

selloff bitcoin short-term holders sold 36k seem

Èñòî÷íèê: newsbtc.com

selloff bitcoin → Ðåçóëüòàòîâ: 126


Analyst: Ethereum Likely to Plunge Towards $320 After Tapping This Key Level

Ethereum has been closely tracking Bitcoin’s price action throughout the past few weeks, although it has been able to outperform the crypto in recent days The cryptocurrency is currently trading up significantly from recent lows of $379 that were set during its recent selloff While BTC remains below its pre-selloff highs, Ethereum has been able to surge past them Despite this strength, analysts are still noting that the crypto may plunge into the lower-to-mid $300 […]

2020-8-30 22:00


Ôîòî:

Bitcoin’s Price is Hovering Above “Last Ditch” Support Following Recent Selloff

Bitcoin is currently teetering above its crucial support at $11,300 This level has been holding strong over the past day, but an influx of selling pressure has put it at risk of being broken below in the near-term This level also happens to coincide with the benchmark crypto’s 200-day ema, which is a crucial technical level that must be defended If this technical and horizontal support is lost in the days ahead, BTC could be […]

2020-8-27 02:00


Ôîòî:

Bitcoin’s Bull Case Degrades Following Selloff; What Analysts Are Watching

Bitcoin has seen some slight downside today, marking a bearish resolution to the bout of sideways trading that it has been caught within throughout the past few days Yesterday, bulls were showing some signs of strength as they pushed the crypto towards $12,000 This fleeting momentum seems to indicate that bulls are still plagued by underlying weakness As for where BTC may trend next, analysts are noting that this did strike a blow to the […]

2020-8-26 21:00


Bitcoin is “Fragile” as It Trades Below Multiple Crucial Levels

Bitcoin witnessed an intense influx of selling pressure yesterday that caused its price to reel down towards lows of $11,600 Although it was able to find strong support at these lows, this recent selloff forced it back below the $12,000 region This is a grim sign for its mid-term outlook, as it points to underlying weakness amongst the cryptocurrency’s bulls Analysts are now noting that it does appear to be in a “fragile” position This […]

2020-8-19 21:00


Ethereum is at Risk of Losing a Crucial Level Following Yesterday’s Selloff

Ethereum has been closely tracking Bitcoin’s price action in recent weeks, which caused it to see some intense bearishness yesterday The cryptocurrency’s price dove as low as $367 once the selling pressure began peaking From this point, it saw a strong rebound that allowed it to recapture that vast majority of these losses It now appears to be well-positioned to see slightly further near-term upside One analyst believes that this latest dip did put ETH […]

2020-8-13 23:00


Why Analysts Expect Ethereum to See Further Downside Following Intense Selloff

Ethereum witnessed some intense overnight volatility that caused its price to slide as low as $300 This intense selling pressure came about in tandem with that witnessed by Bitcoin – which caused its price to slide down to lows of $11,000 Analysts are now noting that ETH may be positioned to see further downside due to the strength of this movement Although it has found some support and stability within the mid-$300 region, weakness against […]

2020-8-3 22:00


$500M Liquidated: Bitcoin Slides to Crucial Level Following Overnight Volatility

Bitcoin bore witness to some intense overnight volatility that came about after it hit highs of $12,000 From this point, the cryptocurrency decline to lows of $11,000 before finding some strong support Despite buyers protecting this level, its inability to post any type of strong bounce here does seem to be a negative sign for the cryptocurrency The sharp cliff formed as a result of the overnight selloff also led to massive liquidations amongst buyers […]

2020-8-3 19:00


Trader: Bitcoin Could Be Forming a Massive “Bull Trap” as Bearish Signs Emerge

Bitcoin is currently flashing overt signs of strength as it consolidates above $11,000 Bears attempted to catalyze a selloff yesterday, but the previous resistance at $10,500 now has flipped into a strong support level Analysts are widely noting that the cryptocurrency is positioned to see further upside However, one trader is cautioning against premature euphoria He notes that there are a few signals that indicate this movement could be a massive “bull trap” that ends […]

2020-7-30 02:00


Here’s How Low Bitcoin May Drop Before It Can Rally Even Higher

To the surprise of some investors, Bitcoin has been able to find some relative stability above $9,500 The cryptocurrency has now been trading above this level for over a day, and bears have not been able to catalyze any type of sharp selloff It now appears that BTC may need to see a pullback before it can push any higher, as buyers seem to be losing their momentum One analyst is closely watching one crucial […]

2020-7-25 21:00


Ôîòî:

Spikes in Bitcoin Exchange Inflows Signal a Large Selloff is Looming

Bitcoin has continued trading sideways within the lower $9,000 region overnight, with its ongoing consolidation phase now extending over ten weeks Although the crypto has yet to express any clear momentum, likely, this lackluster trading bout will ultimately result in it making a massive movement Analysts are now noting that exchange inflows over the past few weeks have been surging, suggesting that traders may be preparing to offload their BTC This could help provide the […]

2020-7-16 21:00


Ôîòî:

Money Manager Recommends Zero Exposure To Equities, Will Capital Flow Into Bitcoin?

A highly respected money manager that has called the last three financial bubbles says the current bubble is the “real McCoy,” and recommends zero exposure to traditional equities. But investment capital must flow somewhere – will Bitcoin benefit from the eventual stock market bubble bursting? Legendary Bubble Expert and Money Manager Recommends Zero Exposure To Equities Although Black Thursday saw an initial stock market selloff that also crushed Bitcoin and other cryptocurrencies, once the Federal […]

2020-6-18 18:00


Ôîòî:

Ethereum Likely to Dive Towards $200 as Overnight Selloff Rattles Market Structure

Ethereum has decline today alongside Bitcoin and the aggregated crypto market, breaking below a key support level that was previously being defended by buyers It now appears that ETH could be well positioned to see even further downside in the days and weeks ahead One technical indicator is forecasting that it will plunge to $200 before it is able to garner any notable buying pressure This could lead it to break below a key support […]

2020-6-16 23:00


Ôîòî:

Here’s the Single Factor that Could Trigger a Bitcoin Selloff to $7,600

Bitcoin has entered a firm consolidation phase as it struggles to garner any notable upwards momentum It does appear that the resistance existing within the upper-$9,000 region is insurmountable, with another rejection here potentially proving to be grave There are a few factors that suggest the cryptocurrency is poised to see some notable downside in the days and weeks ahead One such factor is the existence of a CME futures gap at $7,600. This coincides […]

2020-6-6 02:00


Ôîòî:

These Three Factors Show Bitcoin Will See a Massive Selloff at $10,000

Bitcoin has seen some incredibly mixed price action as of late, with BTC struggling to garner any notable momentum as it approaches its heavy resistance $10,000 This resistance has proven to be insurmountable on multiple occasions throughout the past several weeks and months One analyst is now noting that BTC’s ongoing rally up towards the five-figure price region is strikingly similar to that seen in months past Three factors signal that this rally could be […]

2020-6-1 19:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival

Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.

Bitcoin Diamond Hands Still Unbroken: 30.7% Of Supply Dormant For 5+ Years

Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]

Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time?

Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.

Bitcoin Difficulty Jumps 3% As Hashrate Slowly Recovers

On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]

Bitcoin Investors Have Turned Greedy Again: What Could Be Next For BTC?

Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]

These Are The Biggest Bitcoin Support & Resistance Zones, Analyst Reveals

An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.