Glassnode: Long-term holders transferred approximately 25,000 BTC to the exchange in the past two days to take profits

Glassnode data shows that the Bitcoin market shows differences in the behavior of long-term holders (LTH) and short-term holders (STH), with LTH holding Bitcoin for more than 155 days starting to transfer BTC to exchanges. This trend began when BTC dropped from $30,000 to $26,000 in July 2023, roughly equivalent to the past 155 days. LTH, which invested during this time, moved approximately 25,000 BTC, or approximately $1 billion, to the exchange on January 17 and 18, indicating that they were seeking to take profits. It is worth mentioning that these LTH positions did not appear to be selling off at a loss. In contrast, STH, which has held Bitcoin for less than 155 days, exhibits more erratic behavior. They transferred a whopping $2.4 billion worth of BTC to the exchange on January 18 at a loss, indicating an increased level of trading activity. (CryptoSlate)