Bitcoin Updates: Turning Point or Opportunity? Recent STH Bitcoin Sales Signal Upcoming Bull Market Rebound
- Bitcoin's recent price drop below $100,000 triggered mass capitulation as short-term holders (STHs) dumped 148,000 BTC at a loss in 48 hours. - Institutional outflows worsened the sell-off, with $866.7M in Bitcoin ETF redemptions on Nov 13, led by Grayscale and BlackRock . - Long-term holders sold 815,000 BTC since Jan 2024, but whale wallets absorbed 45,000 BTC weekly, signaling potential market rebalancing. - Technical indicators show Bitcoin testing $94,000 support, with STH selling risks pushing pric
The latest decline in Bitcoin's price has brought increased attention to short-term investors, as data reveals these traders have been selling off large amounts of their coins during the broader market slump.
Institutional outflows have further intensified the sell-off, especially from Bitcoin ETFs. On November 13, spot Bitcoin ETFs saw net redemptions totaling $866.7 million,
At the same time, long-term holders (LTHs) have also been selling, though at a slower rate. Over the past month,
Technically, the market remains vulnerable. Bitcoin's price has been moving within a downward channel,
Institutional sentiment, however, is mixed.
The ongoing tension between retail selling and institutional buying may signal a turning point.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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