On Tuesday, short-term Bitcoin holders transferred 47,025 BTC to exchanges during a 24‑hour period that ended at midnight UTC. The transfers occurred as Bitcoin fell to $72,670, its lowest price since August 20.
Scale of the inflow
The 47,025 BTC moved represents one of the largest 24‑hour totals recorded by on‑chain analytics platform CryptoQuant since it began tracking data in July. It ranks as the third‑largest inflow of short‑term holder coins carrying unrealized losses since that time.
Short‑term holder behavior
CryptoQuant defines short‑term holders as addresses that have held Bitcoin for up to 155 days. These holders are generally more likely to sell when prices decline. On the day in question, the majority of the transferred coins were underwater, with approximately 27 BTC arriving at a loss for every 1 BTC transferred at a profit.
Historical context
The largest similar inflow occurred on October 8, when 50,500 BTC were moved after Bitcoin slipped back to $80,000. Short‑term holders had previously moved into aggregate unrealized profit on August 20, but returned to an aggregate loss on the Friday before the Tuesday transfer.
Analyst commentary
CryptoQuant head of research Julio Moreno noted that a sustained break below $73,000, followed by a failed rebound, could reinforce the view that Bitcoin’s broader downtrend, which began in November 2025, may continue.
