Short-term holders transfer record $4.3 billion in profits to exchanges

Quick Take

Short-term holders, investors who have held Bitcoin for less than 155 days, transferred 65,000 Bitcoin in profit to exchanges on Mar. 6. According to data from Glassnode, this marks one of the highest amounts of profit sent in Bitcoin terms in the past five years, only surpassed by April 2019’s record when 75,000 Bitcoins were sent to exchanges. However, it’s worth noting that the price of Bitcoin at that time was roughly $5,000, while it now stands at around $66,000.

This translates to roughly $4.3 billion in value, the highest ever recorded. Interestingly, this significant profit transfer comes shortly after STHs moved $2.6 billion worth of Bitcoin at a loss to exchanges, marking the third-highest loss transfer since May 2022.

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