Bitcoin Rally Stalls As Short-Term Holder Exchange Inflows Intensify

NewsBTC
NewsBTC

28 Jun 2023 5:00 PM

On-chain data shows the Bitcoin exchange inflows of the short-term holders have intensified recently as the asset's rally has come to a halt....

  • On-chain data shows that short-term holders of Bitcoin have been depositing their coins to centralized exchanges, indicating a possible trend of selling in the market.
  • The exchange inflow of short-term holders has recently reached 1.28% of their total supply, which is higher than previous levels.
  • Short-term holders are known for their tendency to sell quickly in response to fear, uncertainty, and profit-taking opportunities.
  • The increased selling from short-term holders may be contributing to the current sideways trend in Bitcoin's price.

The article highlights a bearish sentiment as it suggests that the intensified selling from short-term holders may have negative consequences for Bitcoin's price.

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You May Ask

What does "exchange inflow" refer to in the context of Bitcoin?Who are short-term holders in the Bitcoin market?What is the significance of short-term holders depositing their coins to centralized exchanges?How does the current exchange inflow of short-term holders compare to previous levels?What impact can the intensified selling from short-term holders have on Bitcoin's price?

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