Bitcoin’s price recently dropped to an 11-week low of $72,670, slipping below the average cost basis of short-term holders, which is around $75,700, according to CoinTelegraph and CryptoQuant. This decline has pressured traders who bought recently, forcing them to realize losses.
As a result, short-term holders have moved approximately 47,000 BTC to exchanges at a loss, CoinTelegraph reported. This significant outflow indicates increased selling pressure from investors trying to cut their losses amid the price downturn.
For Japanese investors, this development highlights the volatility risks in crypto markets amid shifting sentiment, reinforcing the importance of risk management in FX and crypto portfolios.