Bitcoin Short-Term Holders Take $5.2B Loss As Price Plunge Shakes Out Weak Hands

Bitcoin short-term holders (STHs), who bought within the past 155 days, have recently transferred $5.2 billion in Bitcoin at a loss to exchanges after the recent BTC price drop.

STHs tend to react quickly to price changes compared to long-term holders and often capitulate after rallies or crashes.

The on-chain data shows STHs moving funds at a loss to exchanges, likely to sell, in higher volumes after the latest crash than after previous ones this year.

This suggests the crash shook out weaker STHs who FOMO-bought around the recent all-time high before the drop.

Since the plunge, Bitcoin price has struggled to regain significant momentum, only recovering to around $66,500 so far.