Bitcoin short-term holders send 47K BTC to exchanges at a loss

Bitcoin fell to an 11-week low of $72,670 after slipping below short-term holders’ average cost basis of about $75,700, according to CryptoQuant.

Bitcoin (BTC) short-term holders sent more than 47,000 BTC to exchanges on Tuesday as Bitcoin fell to an 11-week low, with the coins worth less than their purchase price.

Key points:

Data from onchain analytics platform CryptoQuant showed short-term holders sent 47,025 BTC carrying unrealized losses to exchanges in the 24 hours to midnight UTC at the start of Wednesday.

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