Odaily Planet Daily News Bitcoin fell below $70,000 on Thursday, triggering panic selling by short-term holders (STH). On that day, short-term holders transferred approximately $2.3 billion worth of Bitcoin (around 32,000 BTC) to exchanges while at a loss, marking the largest single-day loss transfer since the yen arbitrage trades were closed on August 5. Meanwhile, over the past three days, short-term holders transferred more than $6 billion worth of Bitcoin to exchanges through profit-taking, cashing out some profits. Analysts pointed out that the U.S. presidential election is scheduled for November 5, and investors are likely to reduce their risk exposure, which they often do on the last day of the month. (CoinDesk)