BTC Risks $110K as 22K Coins Sold at a Loss

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More than 20,000 Bitcoin were moved to exchanges at a loss by short-term holders this week, raising the odds for a BTC price dip toward $110,000.

Short-term Bitcoin holders have sold over 20,000 BTC at a loss since Sunday.

Technicals suggest pushing Bitcoin’s price below $100,000 could be a tough task for the bears.

Bitcoin price has pulled back below $116,000, as uncertainty ahead of Jerome Powell’s Jackson Hole speech led investors and traders to reevaluate risks and stay cautious.

Bitcoin “weak hands” back to realizing losses

More than 1,670 BTC were transferred to exchanges at a loss on Sunday, which surged to 23,520 BTC by Tuesday, coinciding with a 3.5% drop in BTC’s price to $114,400 from $118,600, per Glassnode data. 


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