Bitcoin

when

Dent

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-may-witness-short-term-price-correction-as-long-term-holders-move-tokens-to-short-term-holders/" data-wpel-link="internal">Bitcoin May Witness Short-Term Price Correction as Long-Term Holders Move Tokens to Short-Term Holders</a> 
On-chain data showed that tokens from long-term holders (LTH) are moving towards short-term holders (STH), suggesting that the leading cryptocurrency <a href="https://coin-turk.com/tecrubeli-analist-bitcoinde-100-000-dolar-seviyelerine-isaret-etti-btc-2025-yilinda-bu-fiyat-seviyelerine-ulasabilecek-mi" data-wpel-link="internal">Bitcoin</a> (BTC) could witness a short-term price correction. 
<h2 id="expert-opinion-on-btc">Expert Opinion on BTC</h2> 
CryptoQuant analyst Yosei Dent assessed BTC’s exchange activity in a new statement and claimed that there was an increase in the amount of BTC held for a long time transferred to exchanges when it crossed the $51,000 price threshold on February 14th, saying: 
<blockquote> 
 When BTC crossed the $51,000 mark on the 14th of the month, 5,153 BTC from the 6-12 month age range were transferred to exchanges. 
</blockquote> 
Expert Dent noted that BTC holders in this investor group bought their cryptocurrencies during the bull market run that started in October 2023, which led to the cryptocurrency closing the trading year at several months’ high of $42,000. Additionally, on the same day, the exchange entry volume of cryptocurrency holders who had held their BTC for 3 to 5 years briefly rose to 2,123 BTC. According to Dent, most of these investors bought their cryptocurrencies during the bull run from 2019 to 2021. Therefore, the recent increase in exchange entry volume could indicate that they have realized profits. Dent stated: 
<blockquote> 
 Considering that the BTC price was at $48,000 on February 14, 2021, it appears that some investors from the 3-5 year group may have exited the market at their break-even point. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-318997 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/btcc.webp" alt="" width="2048" height="898"> 
<h2 id="exchange-inflows-in-bitcoin">Exchange Inflows in Bitcoin</h2> 
The leading cryptocurrency, <a href="https://en.coin-turk.com/analyst-predicts-major-corrections-for-bitcoin-and-ethereum-after-recent-rallies/" data-wpel-link="internal">Bitcoin</a>, seeing an increase in exchange inflows from these investor groups, could indicate that cryptocurrencies are moving from LTHs to STHs. However, Dent commented on the matter: 
<blockquote> 
 However, when compared to LTH exchange entries in previous cycles, this scale is relatively small. 
</blockquote> 
According to data obtained from the 21milyon.com website at the time the article was written, BTC was at $51,245. On the other hand, 5% of the current holders, consisting of 2 million addresses holding their BTC at a loss, are in the red. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-may-witness-short-term-price-correction-as-long-term-holders-move-tokens-to-short-term-holders/" data-wpel-link="internal">Bitcoin May Witness Short-Term Price Correction as Long-Term Holders Move Tokens to Short-Term Holders</a></h5>

Bitcoin May Witness Short-Term Price Correction as Long-Term Holders Move Tokens to Short-Term Holders

목차

COINTURK NEWS

2024년 2월 24일에 게재된 다른 기사

SEC Acknowledges Bitcoin ETF Options Request, Invites Public Feedback

Dogecoin Struggles to Break Key Resistance Level

JasmyCoin Price Surge Comes to an End With a 15% Crash

Nightingale Survival Game Faces Challenges After Launch

The Insider’s Guide to Discovering Tomorrow’s Leading Cryptocurrency

Battle Of The Crypto Presales – Scapes Mania, Doge Uprising and Sponge V2

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!