Bitfinex says long-term BTC holders largely stayed put during recent drop

Bitcoin typically moves to exchanges before being sold, but there were almost no cases of BTC held for more than six months moving to exchanges during the recent decline from $87,000, Bitfinex said. Most of the Bitcoin flowing into exchanges had last moved within the past week, according to Bitfinex. The exchange added that capitulation selling by investors would likely require longer-held coins to start moving as well, but no such pattern has emerged so far.