BTC short-term holders sent 47.3K BTC to exchanges at a loss in 24 hours

CryptoQuant contributor Darkfost analyzed that exchange deposits from Bitcoin short-term holders in a loss position reached one of the highest levels in recent months. Of the 48,500 BTC short-term holders sent to exchanges over the past 24 hours, 47,300 BTC was moved at a loss, accounting for about 97.5% of the total, Darkfost said. Since October, BTC has entered a sell-side-dominant phase and undergone a roughly 15% correction. Early in the pullback, profit-taking by short-term holders was the main driver, but loss-position transfers now make up the bulk, according to Darkfost.