Glassnode: In the past 2 days, short-term Bitcoin holders have transferred $3 billion worth of BTC to CEX at a loss

ChainCatcher news, according to CoinDesk, data from Glassnode shows that since September 19, short-term holders of Bitcoin have purchased approximately 100,000 Bitcoins. As of September 27, the price of Bitcoin surged to over $66,000, and with the price increase, short-term holders began to buy in large quantities. However, as the price started to decline, they began to sell off their holdings.

In the past two days, short-term holders sent about 64,000 Bitcoins to exchanges, worth $4 billion. Approximately $3 billion of this was sent at a loss. On the other hand, long-term holders seem to remain calm. During the same period, this group only sent 100 Bitcoins to exchanges at a loss.

It is reported that Glassnode defines "short-term holders" as investors who have held Bitcoin for less than 155 days. This group tends to panic sell when the BTC price falls below their cost basis.