{"id":596581,"date":"2024-03-06T22:00:27","date_gmt":"2024-03-06T22:00:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=596581"},"modified":"2024-06-11T08:31:53","modified_gmt":"2024-06-11T08:31:53","slug":"bitcoin-short-term-holders-2-6-btc-crash","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-short-term-holders-2-6-btc-crash\/","title":{"rendered":"Bitcoin Short-Term Holders Panic Capitulate $2.6 Billion In BTC Crash"},"content":{"rendered":"

On-chain data shows that Bitcoin short-term holders have panic sold $2.6 billion worth of coins in the crash following the new all-time high.<\/p>\n

Bitcoin Short-Term Holders Have Sent Huge Volume In Loss To Exchanges<\/h2>\n

As analyst James V. Straten explained in a new post<\/a> on X, Bitcoin short-term holders have shown signs of capitulation during the latest drop in the cryptocurrency’s price.<\/p>\n

The “short-term holders<\/a>” (STHs) refer to the BTC investors who bought their coins within the past 155 days. The STHs make up one of the two main divisions of the market, the other one being the “long-term holders<\/a>” (LTHs).<\/p>\n

Related Reading: Solana Open Interest Plunges 20%: What It Means For Price<\/a><\/div>\n

Statistically, the longer an investor holds onto their coins, the less likely they are to sell at any point. This means that the STHs, who are relatively new hands, generally sell quickly whenever an asset crash or rally occurs. The LTHs, on the other hand, usually show resilience, only selling at specific points.<\/p>\n

One way to track whether either of these groups is selling is through the transfer volume they are sending to exchanges. First, here is a chart that shows the trend in the Bitcoin exchange inflow volume precisely for the STHs in loss:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric appears to have shot up in recent days | Source: @jvs_btc on X<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin STHs have transferred around $2.6 billion worth of coins in loss to exchanges in the past day, implying that some members of this cohort have capitulated.<\/p>\n
This spike is huge, but it’s less than the loss-taking event that took place back during the price drawdown that followed the BTC spot exchange-traded fund (ETF)<\/a> approval.<\/p>\n
These loss sellers would be those who FOMO’d into the rally that took BTC to a new all-time high beyond the $69,000 level, but their conviction wasn’t strong enough that they were able to hold past the sharp crash that BTC observed shortly after.<\/p>\n
The STHs aren’t the only ones who have exited the market in this latest price volatility; it would appear that the LTHs have also done some selling. The difference, however, is that these HODLers have made profits.<\/p>\n
The chart below shows how the exchange transfer volume for the LTHs in profit has looked like recently.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the value of the metric has registered a sharp spike recently | Source: jvs_btc on X<\/a><\/pre>\n
The graph shows that the Bitcoin LTHs have participated in their largest profit-taking event since July 2021, transferring tokens worth $1.5 billion to exchanges.<\/p>\n
Related Reading: Bitcoin Sets New All-Time High Above $69,000 As Institutionals Show FOMO<\/a><\/div>\n
Thus, it would appear that this recent volatility has shaken up the conviction of even some of the diamond hands, although these HODLers have at least still been rewarded with profits.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around the $65,800 mark, up 8% in the past week.<\/p>\n
\"Bitcoin<\/p>\n
BTC has gone through a rollercoaster in the past couple of days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from \u611a\u6728\u6df7\u682a cdd20 on Unsplash.com, Glassnode.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows that Bitcoin short-term holders have panic sold $2.6 billion worth of coins in the crash following the new all-time high. Bitcoin Short-Term Holders Have Sent Huge Volume In Loss To Exchanges As analyst James V. Straten explained in a new post on X, Bitcoin short-term holders have shown signs of capitulation during the latest drop in the cryptocurrency’s price. The “short-term holders” (STHs) refer to the BTC investors who bought their coins within the past 155 days. The STHs make up one of the two main divisions of the market, the other one being the “long-term holders” (LTHs). Related Reading: Solana Open Interest Plunges 20%: What It Means For Price Statistically, the longer an investor holds onto their coins, the less likely they are to sell at any point. This means that the STHs, who are relatively new hands, generally sell quickly whenever an asset crash or rally occurs. The LTHs, on the other hand, usually show resilience, only selling at specific points. One way to track whether either of these groups is selling is through the transfer volume they are sending to exchanges. First, here is a chart that shows the trend in the Bitcoin exchange inflow volume precisely for the STHs in loss: The value of the metric appears to have shot up in recent days | Source: @jvs_btc on X As displayed in the above graph, the Bitcoin STHs have transferred around $2.6 billion worth of coins in loss to exchanges in the past day, implying that some members of this cohort have capitulated. This spike is huge, but it’s less than the loss-taking event that took place back during the price drawdown that followed the BTC spot exchange-traded fund (ETF) approval. These loss sellers would be those who FOMO’d into the rally that took BTC to a new all-time high beyond the $69,000 level, but their conviction wasn’t strong enough that they were able to hold past the sharp crash that BTC observed shortly after. The STHs aren’t the only ones who have exited the market in this latest price volatility; it would appear that the LTHs have also done some selling. The difference, however, is that these HODLers have made profits. The chart below shows how the exchange transfer volume for the LTHs in profit has looked like recently. Looks like the value of the metric has registered a sharp spike recently | Source: jvs_btc on X The graph shows that the Bitcoin LTHs have participated in their largest profit-taking event since July 2021, transferring tokens worth $1.5 billion to exchanges. Related Reading: Bitcoin Sets New All-Time High Above $69,000 As Institutionals Show FOMO Thus, it would appear that this recent volatility has shaken up the conviction of even some of the diamond hands, although these HODLers have at least still been rewarded with profits. BTC Price At the time of writing, Bitcoin is trading around the $65,800 mark, up 8% in the past week. BTC has gone through a rollercoaster in the past couple of days | Source: BTCUSD on TradingView Featured image from \u611a\u6728\u6df7\u682a cdd20 on Unsplash.com, Glassnode.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":596608,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,83676,506,84666,88429,84852,87789,1119,1144],"class_list":["post-596581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-capitulation","tag-bitcoin-crash","tag-bitcoin-long-term-holders","tag-bitcoin-loss-selling","tag-bitcoin-short-term-holders","tag-bitcoin-sths","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Short-Term Holders Panic Capitulate $2.6 Billion In BTC Crash<\/title>\n<meta name=\"description\" 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Short-Term Holders Panic Capitulate $2.6 Billion In BTC Crash","url":"http:\/\/uniquehot.com\/news\/bitcoin-short-term-holders-2-6-btc-crash\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-short-term-holders-2-6-btc-crash\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/cdd20-wNnGHhZ9QHA-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/cdd20-wNnGHhZ9QHA-unsplash.jpg?fit=2000%2C3000"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin capitulation","bitcoin crash","bitcoin long-term holders","bitcoin loss selling","bitcoin short-term holders","bitcoin sths","btc","btcusd"],"dateCreated":"2024-03-06T22:00:27Z","datePublished":"2024-03-06T22:00:27Z","dateModified":"2024-06-11T08:31:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Short-Term Holders Panic Capitulate $2.6 Billion In BTC Crash\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-short-term-holders-2-6-btc-crash\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-short-term-holders-2-6-btc-crash\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/cdd20-wNnGHhZ9QHA-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/cdd20-wNnGHhZ9QHA-unsplash.jpg?fit=2000%2C3000\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin capitulation\",\"bitcoin crash\",\"bitcoin long-term holders\",\"bitcoin loss selling\",\"bitcoin short-term holders\",\"bitcoin sths\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-03-06T22:00:27Z\",\"datePublished\":\"2024-03-06T22:00:27Z\",\"dateModified\":\"2024-06-11T08:31:53Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/cdd20-wNnGHhZ9QHA-unsplash.jpg?fit=2000%2C3000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/596581"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=596581"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/596581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/596608"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=596581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=596581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=596581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}