Glassnode
Short-term holders in profit recently sent the largest share of Bitcoin exchange inflows in a year, adding selling pressure to $BTC and weighing on its price.
That flow has now eased back to its average yearly level. The latest reading suggests the unusually elevated profit-taking impulse has normalized, removing one recent source of pressure on Bitcoin.
Frequently asked questions
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What has been weighing on Bitcoin’s price?
Short-term profit-taking has weighed on Bitcoin after profitable short-term holders sent an unusually large share of exchange inflows.
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Who drove the elevated exchange inflows?
Short-term holders who were in profit sent the largest share of Bitcoin exchange inflows in a year.
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How has the exchange-inflow pattern changed?
The flow from profitable short-term holders has eased back to its average yearly level.
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Does the latest data show continued unusually high selling?
No. The flow has returned to its average yearly level, indicating that the recent elevated profit-taking impulse has normalized.
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What does the normalization mean for Bitcoin?
It removes one recent source of selling pressure on Bitcoin, although the data describes the flow change rather than a broader market trend.
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