Bitcoin holds as market reacts to SEC drama

recent charts revealed that the sell-off volume of BTC was primarily influenced by day traders, swing traders, and some long-term holders.

A closer examination of the Exchange Inflow Spent Output Age Bands provided interesting insights. On June 4, there was a modest increase in BTC inflow within the 0–1-day age band, with over 14,000 BTC entering the exchanges. This move was a regular occurrence based on historical data. However, June 5 witnessed a significant spike in the inflow from long-term holders in the three to six-month age band. This sudden surge saw over 3,000Source: CryptoQuant

On the other hand, the six and 12-month holders seemed relatively calm in their sales. But June 7 saw an unprecedented flow of over 1,000 BTC, marking the highest level since March. These observations suggested that short-term holders were the primary drivers behind the recent fluctuations in BTC’s price. Long-term holders have generally held onto their coins.shed light on the volume of Bitcoin sold by various traders, ranging from 1 to 10,000 BTC over the past 13 months.As U.S.

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