Analyst: Short-term investors have transferred nearly $8 billion of BTC to CEX at a loss in the past two days, which may represent a short-term bottoming out of the market

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MarsBit
11-27
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According to analyst Van Straten citing data, short-term holders or those holding Bitcoin for less than 155 days have sent $7.8 billion (83,000 BTC) worth of Bitcoin to CEXs at a loss over the past two days. Van Straten stated that this is the highest number on record. When this group tends to send tokens worth $2 billion or more to trading platforms, it usually signals a local bottom. The current Bitcoin trading price is only 7% below the all-time high, and investors who bought in the past week are the only entities that will incur losses.

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