Short-Term Holders Offload $3.76B as BTC’s Price Falls Below $70K

Quick Summary:

Short-Term Holders Offload $3.76B as BTC’s Price Falls Below $70K In a significant market movement, Bitcoin (BTC) experienced a substantial sell-off as short-term holders (STHs) offloaded 54,352 BTC, equivalent to approximately $3.76 billion, on October 31.

According to data from Glassnode cited by Cointelegraph, this marks the largest single-day sell-off by STHs since April.

The outflow of 54,352 BTC represents a significant movement in the market, raising concerns about the sustainability of Bitcoin’s upward momentum and the profitability of short-term trading strategies.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: India

Topics: Crypto News Short-Term Holder

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 16:32:48 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 855 words

Reading Time: 5 minutes read

Sentences: 46 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 23365609

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 38 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 11 hours ago

Coverage Areas: India

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Publisher ID: #121

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