Bitfinex: Long-Term Bitcoin Holders Barely Sold During Drop to $87K
Photo: Coincu
Long-term Bitcoin holders showed restrained exchange deposit activity during Bitcoin’s slide from $87,000, according to analysis from Bitfinex, a signal that the cohort most capable of suppressing price did not rush to exit positions despite the drawdown. When Bitcoin declined from the $87,000 level, on-chain deposit flows to exchanges from long-term holders remained minimal, per Bitfinex data. Exchange deposits from this cohort are tracked as a leading indicator of potential sell pressure because coins must typically move to an exchange before they can be sold on the open market.
Source: Coincu
