Who have been selling Bitcoin these days and why do they?
Bitcoin (BTC) still remains 22% below the historical maximum of $ 109,000 that registered three months ago, which is evidence of greater sales pressure (supply) than purchase (demand). But who are exactly those who are selling and why do they?
The analysis of different data, as the behavior of short and long term investorsallows you to answer this question. This is indicated by a new report in the on-chain explorer Cryptoquant made by the analyst identified as Crazzyblock.
Short -term holders (STH), defined as those who maintain Bitcoin less than 155 days ago, have sent an average of 930 BTC daily to the exchanges during the last 15 days.
In contrast, long -term holders (LTH), which are what Bitcoin possesses more than 155 days ago, led exchanges just 529 BTC daily on average. This suggests The new market participants are selling more than the oldestsince tickets on these platforms are usually to sell holdings.
This can be seen in the following graph:
Tickets in the exchanges have been maintained, meanwhile, mostly stable, which reflects that the sales pressure has been constant in this period.
For the analyst, this combination of factors “highlights fear or taking of short -term benefits, while long -term conviction remains intact.”
Bitcoin’s sales come from shrimp, fish and sharks
If sellers are evaluated according to the size of their wallets in the first half of April, it is distinguished that the Investors With less than 1 BTC – known as “shrimp” – they have been the most active. These sent an average of 480 BTC per day to the exchanges.
They are followed by the so -called “fish” for having between 10 and 100 BTC, which transferred approximately 341 BTC daily, and then the “sharks” for having between 100 and 1,000 BTC, which sent 402 BTC daily.
Instead, The “whales” – horses with more than 1,000 BTC – barely moved 70 BTC per daysuggesting that great players have been largely outside the recent saleswoman. This can be seen in the following graph.
In fact, as cryptonotic reports previously, the proportion of Bitcoin entries by Binance whales, the exchange with the highest volume of trade. That is, these large investors are mostly holding a strategy of Hodling (Maintain long -term BTC).
These data indicate that “true sales pressure does not come from experienced whales or operators, but from retail investors and medium -sized portfolios,” says Crazzyblockk.
Bitcoin gains price stability
Meanwhile, The price of Bitcoin has remained so April mostly around USD 84,000despite the fall last week to the USD 73,000, its minimum in five months.
In the analyst’s opinion, these data, in the midst of the price laterality and decrease in volatility, represents “a classic shaking” of the market: A movement that generates fear among less firm participants to sell their assets.
“This breakdown driven by cohorts helps us understand that current correction is not a massive exodus on the part of intelligent money, but rather a reaction of nerve holders in the short term and medium -sized,” concludes the specialist.
