Insights
BitcoinExchanges
Significant
Bitcoin
transfer
activity
tied
to
short-term
holders’
strategy
on
Ethereum
ETF
debut
The
overall
volume
of
short-term
Bitcoin
holders
transferring
funds
to
exchanges
peaked
on
Ethereum
ETF
launch
day,
July
23,
at
the
highest
level
since
May.
holders
to
exchanges
(Glassnode)
Overall,
Bitcoin
transfer
volumes
for
both
long-term
and
short-term
holders
to
exchanges
showed
short-term
holders
in
loss
represented
a
significant
portion
of
transfer
activity
at
54%,
and
short-term
holders
in
profit
constituted
32%.
Conversely,
long-term
holders
exhibited
a
more
cautious
stance
at
just
13%.
Their
transfer
volume
remained
low
and
stable,
suggesting
a
reluctance
to
sell
despite
unknown
market
conditions.
of
volume
to
exchanges
(Glassnode)
Throughout
Bitcoin’s
history,
short-term
holders
consistently
show
more
active
trading
behavior
and
higher
transfer
activity
than
long-term
holders.
July
24
saw
a
small
6,000
BTC
spike
compared to
the
rest
of
2024
This
data
points
to
exhibiting
short-term
profit-taking
strategies
and
cautious
long-term
investment
behavior.
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Author: Liam ‘Akiba’ Wright