Who’s Been Selling Bitcoin During the Crypto Market Crash?

Short-term holders have sent 55,000 Bitcoin—worth approximately $4.6 billion at the time of writing—to exchanges at a loss within the past 24 hours, according to data shared via CryptoQuant.

Their apparent selling has occurred as the biggest cryptocurrency recovers slightly after dipping below $80,000 for the first time since early November, reversing the gains it made following Donald Trump’s election victory.

Today’s movements follow a period of several days in which short-term holders (STHs)—defined as addresses that have held Bitcoin for a period of fewer than 155 days—have repeatedly shifted large quantities of the cryptocurrency to trading platforms.

Wednesday saw as much as 80,000 BTC move to exchanges via STHs, while…

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