BTC short-term holders could be the reason for BTC’s latest price drop as per CryptoQuant’s latest analsysisThere has been a lot of speculation in the market ever sincefell from its high of $29,703 on 5 May to $27,333 on 8 May. Although BTC exchanged hands 0.65% higher over the last 24 hours, its seven-day performance still flashed red at press time.
These holdings were acquired between 15.4k to 18.3k and were held on for a period of 3 to 6 months. Furthermore, these holdings made a significant portion of the spend output.Additionally, the second significant age band that transferred their BTC to exchanges held onto it between a day and a week. This age band comprised 10.27% of the total outputs.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: