Analyst: Bitcoin Short-Term Holders Sent 47,300 BTC to Exchanges at a Loss Within 24 Hours

November 11 — CryptoQuant analyst Darkfost posted that since October, Bitcoin has gone through a distribution phase, leading to a roughly 15% pullback. After a profit-taking phase by short-term holders (STH), losses are now dominant. Over the past 24 hours, short-term holders sent 48,500 BTC to exchanges, of which 47,300 were sent at a loss, making this one of the strongest STH capitulation events in recent months.