Bitcoin Short-Term Holders Were Behind The Selloff To Below $36k

On-chain data shows Bitcoin short-term holders seem to have been behind the latest selloff that has taken the price of the crypto below $36k. Bitcoin Investors Holding Coins Aged Between 1 Day And 6 Months Sold Big Yesterday As pointed out by an analyst in a CryptoQuant post, short-term holders seem to have sold the heaviest during the recent selloff. The relevant indicator here is the “exchange inflow,” which measures the total amount of coins moving into exchange wallets. A modification of this metric is the “exchange inflow spent output age bands.” it tells us how much the different Bitcoin holder groups are contributing to the inflow. The various groups are divided based on how many days the investors held their coins before transferring them to the exchange. The 1-day to 6-month coin age group is generally considered the “short-term holders” (STH). This cohort is usually the likeliest to sell their coins. All investors holding their Bitcoin for longer periods of time are the “long-term holders” (LTH). Now, here is a chart that shows the trend in the below 6-month and between 6 to 18-month age group inflows over the last few months: Looks like STH inflows spiked up recently | Source: CryptoQuant As you can see in the above graph, the 1-day to 6-month coin age group sent a large amount of coins just yesterday. The inflow spike amounted to more than 60k coins being transfe...