Bitcoin short-term holders sent 47,025 BTC to exchanges while the coins were worth less than their purchase price, according to CryptoQuant. The 24-hour total was the third-highest since July and came as Bitcoin fell to $72,670, its lowest level since Aug. 20. The transfers do not show that the holders sold the coins.
CryptoQuant researcher Julio Moreno said a sustained break below $73,000 followed by a failed rebound above that level would strengthen the case that Bitcoin’s broader downtrend was continuing.
