June 29 (Cointime) - According to data from on-chain analytics firm Glassnode, short-term holders of Bitcoin (BTC) are sending tens of thousands of coins to exchanges, indicating a desire to sell at the $30,000 price point.
The recent stall in BTC price action at $30,000 has prompted short-term holders, who have turned a profit this month, to become increasingly keen sellers. Glassnode's research shows a clear spike in funds being put up for trade originating from short-term holders, which correspond to Bitcoin's more speculative investor cohorts.
The figures suggest that speculative interest in Bitcoin remains fickle and highly sensitive to even smaller price movements.
All Comments