Huo Xing Finance reports that Axel Adler Jr., an analyst at CryptoQuant, stated 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 the majority of its gains.
Short-term Bitcoin holders deposit 549,300 BTC to exchanges amid a 21% price surge.
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Summary
BTC price rose 21% as short-term holders deposited 549,300 BTC to exchanges, according to Axel Adler Jr. of CryptoQuant. The price increased from $64,000 to $78,000, briefly reaching $81,800 before dropping 4.1%. Traders are now monitoring BTC price movements and altcoins for additional signals.
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