ChainCatcher report: CryptoQuant analyst Axel Adler Jr. posted that short-term Bitcoin holders, who have held their coins for less than six months, transferred a total of 549,300 BTC to exchanges. During the same period, Bitcoin's price rose from $64,000 to $78,000, an increase of approximately 21%; after reaching a local high of $81,800, it retraced about 4.1% but still retained most of its gains.
Short-term Bitcoin holders deposit 549,300 BTC to exchanges amid a 21% price increase.
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Summary
The BTC price rose 21% as short-term holders deposited 549,300 BTC to exchanges, according to CryptoQuant analyst Axel Adler Jr. The price increased from $64,000 to $78,000, briefly hitting $81,800 before retracting 4.1%. Traders are now monitoring BTC price action and altcoins for potential follow-through.
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