Recent BTC selling driven by short-term holders who bought above $80K: analyst

Recent Bitcoin selling has been driven by short-term holders with holding periods of under 155 days, while long-term holders holding for 155 days or more have largely stayed in profit and refrained from selling, on-chain analyst Checkmate said. Checkmate said the latest BTC decline marked the fourth capitulation sell-off following the cryptocurrency’s all-time high, with daily selling volume surging to more than $850 million from $420 million. More than 85% of total selling came from short-term holders who bought near the recent peak above $80,000, Checkmate said.