Bitcoin

<h2 id="quick-take">Quick Take</h2>
<p>Over the 48-hour period of Nov. 7 and 8, short-term holders, specifically those who have maintained their Bitcoin investments for less than 155 days, have extracted a staggering $1.8B in profits. This massive profit-taking marks one of the highest volumes observed this year, rivaled only by instances such as the aftermath of the SVB collapse, the ascent to $30k in June, and a recent surge when <a href="http://cryptoslate.com/coins/bitcoin" rel="noopener noreferrer nofollow">Bitcoin</a> began its climb from a low of $25,000.</p>
<figure id="attachment_372491" aria-describedby="caption-attachment-372491" style="width: 100%" class="wp-caption aligncenter">
 <figcaption id="caption-attachment-372491" class="wp-caption-text">
  Transfer Volume from short-term holders in profit to exchanges (Source: Glassnode)
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<p>The supply of Bitcoin among these short-term holders currently sits at about 2.3M BTC, showcasing a continual decline.</p>
<figure id="attachment_372495" aria-describedby="caption-attachment-372495" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-372495 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/supply.png" alt="Supply held by short-term holders: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/supply.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/11/supply-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/supply-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/supply-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/supply-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-372495" class="wp-caption-text">
  Supply held by short-term holders: (Source: Glassnode)
 </figcaption>
</figure>
<p>At the same time, records show a minimal short-term holder supply in loss, reaching a low of 400 BTC. This relatively insignificant figure underscores that virtually all investors within this short-term cohort are holding onto profits. Such a trend of massive profit-taking may reflect a careful approach from these investors, possibly an attempt to safeguard their returns amidst market volatility or as a strategy to leverage high market values.</p>
<figure id="attachment_372492" aria-describedby="caption-attachment-372492" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-372492 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/sth1.png" alt="Total Supply Held in loss held by short-term holders: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/sth1.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/11/sth1-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/sth1-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/sth1-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/sth1-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-372492" class="wp-caption-text">
  Total Supply Held in loss held by short-term holders: (Source: Glassnode)
 </figcaption>
</figure>
<p>The post <a href="https://cryptoslate.com/insights/bitcoin-short-term-holders-reap-1-8-billion-in-profits-over-48-hours/" rel="noopener noreferrer nofollow">Bitcoin short-term holders reap $1.8 billion in profits over 48 hours</a> appeared first on <a href="https://cryptoslate.com" rel="noopener noreferrer nofollow">CryptoSlate</a>.</p>

Bitcoin short-term holders reap $1.8 billion in profits over 48 hours

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