Nearly $8 Billion in BTC Moved to Exchanges by Short-Term Holders, Suggesting a Price Floor, Says Van Straten.

Bitcoin’s Record High Spurs Profit-Taking, Followed by Loss Realizations Amid $90K Pullback

The rollercoaster of Bitcoin (BTC) volatility is back in full force, offering investors two paths: ride the wave or step aside. While the current cycle has seen milder volatility compared to past bull runs, the recent drop from just below $100,000 to the $90,000 range—a nearly 10% correction—has kept the market buzzing.

Data from Glassnode reveals a striking trend: short-term holders, defined as those holding BTC for under 155 days, have offloaded $7.8 billion worth of bitcoin (approximately 83,000 BTC) to exchanges at a loss over the past 48 hours. This notional loss-taking event is the largest ever recorded.

Historically, when short-term holders transfer $2 billion or more of BTC to exchanges at a loss, it often signals a local price bottom. With Bitcoin trading roughly 7% below its all-time high, recent buyers—those who entered during the last week’s rally—are among the few experiencing losses.

Glassnode data further shows that approximately 678,000 BTC are currently held at a loss. This marks a dramatic shift from just days ago when Bitcoin’s march toward $100,000 triggered record levels of profit-taking.

As the market reacts to this rapid reversal, it remains to be seen whether the recent sell-off represents the capitulation phase of this correction—or simply a pause before Bitcoin continues its ascent toward uncharted price levels.