Bitcoin has been trading within a range of $63,000 to $71,000 throughout March, briefly rallying to $75,000 before settling back. Despite this consolidation, short-term holders (STH) are driving sell-side pressure, according to CryptoQuant analyst TeddyVision. The Bitcoin: Exchange Inflow – Spent Output Age Bands – Spot Exchanges metric indicates that the majority of Bitcoin being sent to exchanges comes from coins held for 0-12 months, highlighting the activity of STHs. While short-term holders are actively selling, long-term holders remain largely inactive, with occasional spikes in activity being event-driven. This dynamic suggests that weaker hands are supplying the market, while stronger hands hold firm. Despite the sell pressure, Bitcoin's price has remained stable, indicating market resilience. As of now, Bitcoin is valued at $66,930, showing little movement in the past 24 hours.
Short-Term Holders Drive Bitcoin Sell Pressure Amid Consolidation
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