Editor's PiCK
Amid worsening Middle East tensions…Short-term holders sell large quantities of Bitcoin
Summary
- It was reported that short-term holders sold approximately 17,800 Bitcoins due to the worsening Middle East situation.
- Over the past 24 hours, short-term holders conducted a quick sell-off on centralized exchanges (CEX).
- Notably, the net sell-off volume by short-term holders reached 11,600, most of which were Bitcoins sold at a loss.
With the Middle East situation deteriorating, it was found that short-term holders sold approximately 17,800 Bitcoins (BTC) the previous day.
On the 23rd (local time), Axel Adler Jr., a contributor to CryptoQuant, reported on X (formerly Twitter), "Over the weekend, the United States carried out airstrikes on Iran's nuclear facilities and announced its intention to participate in the Israel-Iran war," adding, "Accordingly, in the past 24 hours, short-term holders sold 17,800 BTC on centralized exchanges (CEX)."
He noted that there was a swift sell-off by short-term holders. Adler Jr. said, "The net amount of Bitcoins sold by short-term holders reached about 11,600," and "The volume of Bitcoins sold at a loss amounted to 14,700." It was reported that only 3,100 Bitcoins were sold for profit.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
