Glassnode: BTC sell-off in the last 24 hours driven by short-term holders

ChainCatcher message, Glassnode posted on social media that in the past 24 hours, most of the on-chain spending of Bitcoin (BTC) came from short-term holders (STH). Among them, short-term holders (STH) accounted for $18.24 billion (85.5%); long-term holders (LTH) accounted for $3.1 billion (14.5%); the total spending amount was $21.34 billion.

This indicates that the current round of selling is primarily driven by recent buyers rather than long-term investors.