CryptoQuant Analyst: 36,600 BTC Held at a Loss Transferred to Exchanges

According to TechFlow, on October 31, CryptoQuant analyst Darkfost's monitoring showed that after Bitcoin tested USD 76,000 yesterday, short-term holders came under pressure, transferring more than 36,600 BTC held at a loss to exchanges within 24 hours.

In addition, the 7-day cumulative volume of BTC transferred to Binance by short-term holders once reached 45,400 BTC, the highest level since the start of October.

Darkfost believes that rising exchange inflows and increasing transfers of BTC held at a loss reflect the recent pressure on short-term holders; if capitulation by this cohort intensifies, it may indicate that the correction is approaching an extreme, and short-term momentum may shift accordingly.

Source: TechFlow