Short-term bitcoin (BTC) holders exited the market at a loss Monday as tumbling prices also saw derivative traders throw in the towel, leading to a significant decline in open futures bets on the Chicago Mercantile Exchange.

Short-term holders, defined by Glassnode as addresses with a history of holding coins for less than 155 days, sent over 21,000 BTC ($2.2 billion) to exchanges at a loss as the largest cryptocurrency fell as much as 4.7%, the most in two weeks, according to CoinDesk Indexes pricing.$BTC