Bitcoin Sell-Off Driven by Short-Term Holders
Bitcoin has dropped over 9% between April 5–8, with only a slight 2.48% gain from the month’s start. On-chain data from CryptoQuant shows that short-term holders are panicking, sending an average of 930 BTC per day to exchanges—about 400 more than long-term holders. Meanwhile, long-term holders appear more confident, holding steady despite the dip.
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