Bitcoin exchange inflows are currently dominated by investors holding their coins at a loss, according to on-chain data. Short-term holders are mostly contributing to these loss inflows, with the exchange inflow volume profit/loss bias indicator showing that the majority of inflow volume contains coins that their holders had been carrying at a loss. The bias in the market shifted towards loss selling in March when the asset’s price plunged below the $20,000 level, and a similar pattern has occurred recently as the cryptocurrency’s price has stumbled below the $27,000 level. However, long-term holders have leaned towards profits recently, with the opposite cohort being short-term holders. The selling pressure from short-term holders may be a sign that weak hands are currently being cleansed from the market, and this could be a sign that a local bottom may be near for Bitcoin. At the time of writing, Bitcoin is trading around $26,400, down 1% in the last week.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
View J-S Tremblay website
