Posted 12/13/2023, 9:56:57 AM
Bitcoin Traders Panic Sell Over $4 Billion as Price Sees Largest Single-Day Drop of 2023
- Bitcoin short-term holders (STHs) panic sold over $4 billion in BTC over two days as price corrected toward $40,000
- STHs moving their coins to exchanges marks 18-month highs for selling pressure
- Speculators reacting to Bitcoin's 8.1% single-day drop, its biggest of 2023
- On-chain data suggests potential exhaustion of demand after 150% YTD gains
- Mayer Multiple indicator approaching 1.5 resistance level not seen since November 2021 peak