Analyst: Bitcoin short-term holder losses dominate exchange inflows as the ratio of profitable periods drops to 16%

On October 27, CryptoQuant analyst Axel Adler Jr. stated that BTC transfers from short-term holders to exchanges were primarily at a loss. The 24-hour net inflow metric dropped to -18,600 BTC, down from +10,400 BTC a week ago. The metric briefly touched -23,100 BTC on October 26 before narrowing slightly, yet remains in negative territory.

Additionally, during the week ending October 27, the percentage of profitable periods for short-term holder exchange inflows fell from 75% to 16%. Analysts suggest that if this indicator rises above 50% and the net inflow turns positive, it would indicate that exchange inflows have returned to being mainly driven by profit-taking. Note that exchange inflows do not necessarily imply that the corresponding BTC has been actually sold.