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

BitcoinWorld LogoBitcoinWorld2w ago

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

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:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 16:32:48 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 855 words

Reading Time: 5 minutes read

Sentences: 45 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

BitcoinWorld Logo

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 19 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 11 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #121

Publisher Details

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The story "Short-Term Holders Offload $3.76B as BTC’s Price Falls Below $70K" was covered 2 weeks ago by BitcoinWorld, a news publisher based in India.

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BitcoinWorld is a fully independent (privately-owned) news outlet established in 2020 that covers mostly crypto news.

The outlet is headquartered in India and publishes an average of 19 news stories per day.

It's most recent story was published 11 hours ago.

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  • News ID: #23365609
  • URL: https://beamstart.com/news/short-term-holders-offload-376b-17304789011061

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