In the last 24 hours, the total volume of Bitcoin sell-offs reached $21.34 billion, with short-term holders contributing the majority.
Bitcoin Sell-Off in the Last 24 Hours
In the past 24 hours, the spent volume of Bitcoin reached $21.34 billion. Of this, short-term holders (STH) contributed $18.24 billion, which constitutes 85.5% of the total volume. Long-term holders (LTH) represented only $3.10 billion, or 14.5%.
The Role of Short-Term and Long-Term Holders
The data suggests that the recent sell-off is primarily driven by newer investors rather than seasoned Bitcoin holders. Long-term holders continue to hold onto their assets, reflecting their confidence in Bitcoin's future. The high selling activity from short-term holders indicates panic selling or profit-taking among traders reacting to recent price fluctuations.
Price Trend Outlook for Bitcoin
The dominance of short-term holders in the current sell-off could indicate a temporary correction rather than a long-term bearish trend. Historically, when long-term holders remain strong, it supports a market rebound once the panic subsides among short-term players.
Therefore, the current market dynamics and the behavior of short-term holders present risks for short-term volatility but also maintain hope for recovery as long-term investors remain stable.
