The analyst said BTC selling pressure during the decline mainly came from short-term holders, 15 with pressure on 8 weakening compared with
BIBIBI
AT A GLANCE
Analyst Murphy said that BTC selling pressure during the recent pullback mainly came from short-term holders, and that the related transfer volume had declined somewhat.
Article
Analyst:BTC Selling pressure during the decline mainly came from short-term holders
PANews October 16 news reported that analyst Murphy wrote that, in the recent BTC pullback, short-term holders (STH) and long-term holders (LTH) behaved markedly differently. Data showed that short-term holders transferred approximately 4 per hour to exchanges on average within 2200 BTC, forming a conspicuous spike well above those in other periods. This peak was the August highest since the launch of this year's 4 market, of which October 8 and 15 two instances both occurred during declines. The transfer volume on 15 was already lower than on 8, indicating that selling pressure from “swing supply” had weakened somewhat. By contrast, long-term holders transferred only approximately 4 per hour on average within the same 480 BTC, suggesting that they were not very sensitive to the current decline or expectations of macroeconomic negative factors.October 8 Long-term holders previously recorded a peak of 3700 per hour, with the remainder truncated...
Key points
01
PANews reported that analyst Murphy noted that, in the recent BTC pullback, the behavior of short-term and long-term holders differed markedly.
02
Short-term holders transferred 4 to exchanges on average per hour within 2200 hours BTC。
03
This short-term-holder transfer peak was the August highest since the launch of this year's 4 market.
04
The article said that October 8 and 15 the two short-term-holder transfer peaks both occurred during declines.
05
The article said that the transfer volume on 15 was lower than on 8, interpreting this as an indication that selling pressure from “swing supply” had weakened somewhat.
06
During the same period, long-term holders 4 transferred only approximately to exchanges on average per hour within 480 hours BTC。
07
October 8, long-term holders previously recorded a transfer peak of 3700 per hour of BTC, but the subsequent content of the original text was truncated.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Short-term holders generally refers to a group that has held BTC for a shorter period, while long-term holders have held it longer. Murphy compared the quantities of BTC transferred by the two types of holders to exchanges and concluded that short-term holders contributed more evident selling pressure during the recent pullback. It should be noted that a transfer to an exchange only means that BTC entered a venue where it may be used for trading; it does not mean that all of these BTC have been sold.
Why it matters to readers
If a large amount of BTC is transferred to exchanges, the market may focus on potential selling pressure. The article's data showed that short-term holders transferred more than long-term holders, but the volume on 15 was lower than on 8, leading the analyst to conclude that the related selling pressure had weakened somewhat.
Beginners may treat exchange transfer volume as one indicator for observing potential selling pressure, but cannot determine solely from this indicator that the price will necessarily continue to fall or rebound.
Risks and unknowns
The main text was truncated at a key point after the long-term-holder October 8 data, making it impossible to verify the complete argument.
The article did not provide the data source, statistical method, or specific criteria for distinguishing short-term from long-term holders.
Transferring BTC to exchanges does not mean it has already been sold; the actual traded quantity cannot be confirmed from the available content.
Related Developments
Loading event timeline…
The price direction after BTC cannot be confirmed solely from these transfer data.
The title and statements about weakening selling pressure and long-term holders being insensitive are analyst interpretations and should not be regarded as independently verified facts.
Related concepts
BTC
The abbreviation commonly used for Bitcoin when referring to it as a digital currency.
