Analyst: Short-Term Holders Under Pressure as 36,600 BTC Sent to Exchanges at a Loss

October 31: CryptoQuant analyst Darkfost says Bitcoin tested $76,000 yesterday, pressuring some short-term holders. Within 24 hours, short-term holders sent more than 36,600 BTC to exchanges at a loss — a scale sufficient to force many to capitulate. On Binance, despite BTC outflows caused by an exploit, short-term holders remained more active over the past 7 days, with the 7-day cumulative inflow rising to its highest level in October at 45,400 BTC.

Darkfost says the rise in inflows and the increase in loss-making BTC being moved to exchanges indicate that short-term holders have come under pressure in recent days. When short-term holder capitulation intensifies, it usually means the pullback has reached an extreme and short-term momentum may shift accordingly.