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幸运雨Rain
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A market downturn combined with BTC distribution may not be cause for alarm: potential selling pressure is being released early during the transition from bear to bull market
BlockBeats News, October 12: Analyst Murphy said that data shows long-term holders (LTHs) transferred a cumulative total of approximately 32,000 BTC to trading platforms between October 7 and 8. This was the second-largest single-day transfer by LTHs since the sharp drop on February 5 this year, and likely reflects potential selling intent. However, these 32,000 BTC should not all be regarded as active distribution by LTHs.
During the same period, wallets associated with the U.S. government transferred approximately 17,200 BTC to Coinbase Prime. Given that Coinbase Prime is an official custody and trading service provider designated by the U.S. Marshals Service, this transfer does not necessarily indicate a sale; it may also be related to the consolidation of asset custody or the disposition of assets in a case. Excluding this unusual transfer, the remaining approximately 14,800 BTC represents the potential selling pressure that warrants closer attention, coming mainly from long-term holders whose coins have been held for 6–12 months and 3–5 years.
During the same period, wallets associated with the U.S. government transferred approximately 17,200 BTC to Coinbase Prime. Given that Coinbase Prime is an official custody and trading service provider designated by the U.S. Marshals Service, this transfer does not necessarily indicate a sale; it may also be related to the consolidation of asset custody or the disposition of assets in a case. Excluding this unusual transfer, the remaining approximately 14,800 BTC represents the potential selling pressure that warrants closer attention, coming mainly from long-term holders whose coins have been held for 6–12 months and 3–5 years.
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.