[Analysis] Bitcoin Short-term Holders Deposit 79,300 BTC to Exchanges in One Day... Panic Selling Likely

Data shows that short-term Bitcoin (BTC) holders (holding less than 155 days) have deposited 79,300 BTC to cryptocurrency exchanges over 24 hours. This has led to analysis suggesting panic selling by short-term holders.

On the 25th (local time), CoinTelegraph reported that "As Bitcoin recorded its 15-week low ($86,050) yesterday, short-term holders deposited 79,300 BTC to exchanges over 24 hours," noting that "this amounts to approximately $7 billion (about 10.0345 trillion won)."

Avocado OnChain, a CryptoQuant contributor, stated that "the short-term holder SOPR (Spent Output Profit Ratio) indicator has fallen to 0.964," indicating "this suggests panic selling by short-term holders." He added that "similar situations could repeat if additional corrections occur."

Axel Adler Jr., another CryptoQuant contributor, also assessed that "79,300 BTC were sold at a loss on exchanges over the past 24 hours," calling it "the largest Bitcoin selling pressure this year."

The media explained that "they appear to have capitulated to the recent market downturn and sold their Bitcoin," adding "while actual sales are unclear, it indicates increased market uncertainty, particularly among short-term holders."

However, long-term holders remained unmoved by the price decline. Avocado OnChain contributor noted that "long-term holders were not significantly affected by the recent sharp decline" and that "they continue to hold Bitcoin and provide support levels for further price drops."

As of 7:59 PM, Bitcoin is trading at $89,314 on Binance's USDT market, up 1.22% over the past 24 hours.