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.
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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