{"id":541749,"date":"2023-07-07T15:30:23","date_gmt":"2023-07-07T15:30:23","guid":{"rendered":"https:\/\/ktsl888.com\/?p=541749"},"modified":"2024-06-11T08:11:45","modified_gmt":"2024-06-11T08:11:45","slug":"bitcoin-short-term-holders-exchange-inflows-price","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-short-term-holders-exchange-inflows-price\/","title":{"rendered":"Bitcoin Short-Term Holders Continue Exchange Inflows, But Price Holds On"},"content":{"rendered":"
On-chain data shows that Bitcoin short-term holders have continued to make exchange inflows, but the asset’s price has held on so far.<\/p>\n
According to data from the on-chain analytics firm Glassnode<\/a>, the short-term holders have sent 617,000 BTC to exchanges during the past 20 days. The “short-term holders<\/a>” (STHs) here refer to Bitcoin investors who have been holding onto their coins since less than 155 days ago.<\/p>\n The STHs are generally the less experienced hands of the market, who may easily sell during periods of widespread FUD in the market, or during sharp surges in the cryptocurrency’s price.<\/p>\n Usually, these investors make use of exchanges for participating in such selloffs, so the data for their “exchange inflows<\/a>” can provide hints about their current behavior.<\/p>\n The exchange inflow here naturally refers to the total amount of Bitcoin that the STHs are depositing to the wallets of centralized exchanges. When the value of this metric is high, it can be a sign that these holders are selling a large number of coins currently. Naturally, such a trend may have bearish consequences for the asset’s price.<\/p>\n Now, here is a chart that shows the trend in the Bitcoin exchange inflow for these STHs over the past year or so:<\/p>\n <\/p>\n Here, the Bitcoin STH exchange inflows are represented in terms of the percentage of their supply. As the supply of these investors can change, it makes more sense to consider the percentage of it as it would make comparisons with history easier (the pure figures, on the other hand, may be incompatible).<\/p>\n From the graph, it’s visible that the Bitcoin STH exchange inflows have been elevated recently. During the last 20 days, these investors’ inflows have measured above 1% of their supply.<\/p>\nLooks like the value of the metric seems to have been relatively high in recent days | Source: Glassnode on Twitter<\/a><\/pre>\n