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BlockNews
Home BREAKING NEWS

Bitcoin Holders Seize Profit: $3 Billion BTC Moved in 48 Hours

BlockNews.com Team by BlockNews.com Team
December 6, 2023
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 3 mins read
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  • Short-term Bitcoin holders cashed out billions in profits during the latest price surge, with $3 billion realized in just two days. This suggests traders seizing on short-term gains.
  • Long-term holders showed little profit-taking despite the price increase. Their steady hands indicate continued confidence in Bitcoin’s long-term value.
  • The divergent behavior between short and long-term holders provides insight into investor sentiment. Short-term traders are realizing quick gains while long-term investors remain optimistic.

A recent analysis of on-chain data reveals an interesting trend – short-term Bitcoin holders locking in unprecedented profits over a two-day period from December 1st to December 3rd. This coincided with Bitcoin‘s price increasing 13% during the same timeframe.

🚨 NEWS: Short-term #Bitcoin holders realized significant profits this week…

– $1.5 billion on Dec. 1

– $1.7 billion on Dec. 4

~$3 billion in Bitcoin profit moved to exchanges within two days. pic.twitter.com/JlrN6yxFpX

— BlockNews.com (@blocknewsdotcom) December 6, 2023

Massive Profit-Taking by Short-Term Holders

On December 1st, around $15 billion worth of Bitcoin was sold off in profit-taking – the largest single-day amount ever recorded. Then on December 4th, short-term holders (those who acquired BTC within the past 155 days) hit a new record of $17 billion worth of Bitcoin in potential profits.

This trend continued as Bitcoin moved above $44k on December 5th. Around $13 billion worth of coins sent to exchanges were in profit on this day. Overall, Bitcoin’s ecosystem saw a staggering $3 billion worth of coins sent to exchanges in just two days.

Long-Term Holders Remain Confident

In contrast to short-term holders realizing gains, long-term holders (those holding >155 days) have not significantly changed their behavior. While they sold around $225 million in profits over the past two days, this pales in comparison to short-term holder selling.

The lack of profit-taking by long-term investors suggests continued confidence in Bitcoin’s long-term value. Rather than sell, these holders appear to be content continuing to hold their positions.

Key Takeaways

Short-term Bitcoin holders took billions in profits during the latest price surge, with $3 billion realized in just two days. Meanwhile, long-term holders remain confident, with minimal profit-taking observed. This behavior provides insight into investor sentiment and confidence in the market.

Conclusion

The massive profit-taking spree by short-term holders points to traders seizing on short-term gains. However, long-term investors’ steady hands suggest optimism about Bitcoin’s long-term trajectory. As the price discovery continues, it will be telling to see if this divergent behavior persists.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BitcoinBlockchainBusinesscryptoWeb3
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BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

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