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