727 FinancePANews October 31 news: CryptoQuant analyst Darkfost stated that Bitcoin tested $76,000 yesterday, putting pressure on some short-term holders. Within 24 hours, short-term holders sent over 36,600 BTC at a loss to exchanges, a scale sufficient to force many to capitulate. On Binance, despite BTC outflows caused by an exploit, short-term holders have been more active over the past 7 days, with the 7-day cumulative inflow rising to the highest level in October, reaching 45,400 BTC. Darkfost said that the increase in inflows and the rise in the amount of loss-making BTC transferred to exchanges indicate that short-term holders have come under pressure in recent days. When short-term holder capitulation intensifies, it usually means the correction has reached an extreme, and short-term momentum may shift accordingly.
PANews October 31 news: CryptoQuant analyst Darkfost stated that Bitcoin tested $76,000 yesterday, putting pressure on some short-term holders. Within 24 hours, short-term holders sent over 36,600 BTC at a loss to exchanges, a scale sufficient to force many to capitulate. On Binance, despite BTC outflows caused by an exploit, short-term holders remained more active over the past 7 days, with the 7-day cumulative inflow rising to the highest level in October, reaching 45,400 BTC.
Darkfost noted that the increase in inflows and the rise in the volume of loss-making BTC transferred to exchanges indicate that short-term holders have come under pressure in recent days. When short-term holder capitulation intensifies, it usually means the correction has reached an extreme, and short-term momentum may shift accordingly.