Bitcoin

<h2 id="quick-take">Quick Take</h2> 
<p>As Bitcoin reached a notable milestone of $35,000, up 20% in the past five days, it marked the fourth largest instance of profit-taking by short-term holders, classified as those who have held Bitcoin for less than six months and transferred approximately 28,000 Bitcoin to exchanges for profit.</p> 
<figure id="attachment_367521" aria-describedby="caption-attachment-367521" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-367521 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/STH-1.png" alt="Short term holder to exchanges in profit: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/STH-1.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/STH-1-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/STH-1-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/STH-1-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/STH-1-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-367521" class="wp-caption-text">
  Short-term holder to exchanges in profit: (Source: Glassnode)
 </figcaption>
</figure> 
<p>The dwindling supply by short-term holders, now standing at around 2.35 million BTC, echoes a progressive decrease in this cohort’s impact on the market, particularly when compared to long-term holders, who now occupy almost 15 million of the Bitcoin supply.</p> 
<p>This shift is essential because about 11.5 million BTC, currently held by long-term holders, are profitable. Interestingly, this was also the scenario in May 2022, right before the Luna collapse.</p> 
<figure id="attachment_367526" aria-describedby="caption-attachment-367526" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-367526 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/LTH.png" alt="Supply in profit by long-term holders: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/LTH.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/LTH-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/LTH-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/LTH-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/LTH-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-367526" class="wp-caption-text">
  Supply in profit by long-term holders (Source: Glassnode)
 </figcaption>
</figure> 
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/bitcoin-price-surges-4-as-short-term-holders-rush-to-sell/">Short-term holders rush to sell Bitcoin amid market pump</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Short-term holders rush to sell Bitcoin amid market pump

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