Bitcoin falls below $70,000, triggering panic selling among short-term holders

avatar
ODAILY
11-01
This article is machine translated
Show original
Odaily Odaily News Bitcoin fell below $70,000 on Thursday, triggering panic selling by short-term holders (STH). On the same day, short-term holders transferred about $2.3 billion worth of Bitcoin (about 32,000 BTC) to exchanges at a loss, which was the largest single-day loss transfer since the yen carry trade was closed on August 5. At the same time, short-term holders have cashed out part of their profits by transferring more than $6 billion of Bitcoin to exchanges at a profit in the past three days. Analysts pointed out that the US presidential election will be held on November 5, and investors are likely to reduce their risk exposure, which they tend to do on the last day of the month. (CoinDesk)

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments