Bitcoin Falls Below $80,000, but Short-Term Holder Exchange Inflows Remain Limited
Summary
- Bitcoin (BTC) fell below $80,000, but exchange inflows from short-term holders (STH) remained relatively limited.
- Of the 19,800 Bitcoin that short-term holders transferred to exchanges over the past 24 hours, 11,300 were moved at a profit and 8,500 at a loss.
- He added that exchange inflows were not excessive compared with recent months, and that inflow activity from short-term holders has been stabilizing aside from a spike on Oct. 8.
Forecast Trend Report by Period
Bitcoin fell below $80,000, but exchange inflows from short-term holders, or STHs, have remained relatively limited, crypto analyst Darkfost wrote.
On X, formerly Twitter, on Oct. 26, Darkfost said Bitcoin had tested the $80,000 level several times and slipped below it, while exchange inflows from short-term holders stayed relatively contained.
Over the past 24 hours, short-term holders transferred a total of 19,800 Bitcoin to exchanges, he wrote. Of that amount, 11,300 Bitcoin were moved at a profit and 8,500 at a loss.
That is not excessive compared with exchange inflows seen over the past few months.
Darkfost added that exchange inflow activity from short-term holders has been stabilizing, aside from a sharp spike in inflows on Oct. 8.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.