Analyst: Short-term investors have transferred nearly $8 billion in losses to CEX in the past 2 days, which may represent a short-term bottom in the market

BlockBeats news, on November 27, according to analyst Van Straten citing Glassnode data, in the past two days, short-term holders or those holding Bitcoin for less than 155 days have sent Bitcoin worth $7.8 billion (83,000 BTC) to CEX at a loss price over the past two days.

Van Straten indicated that this is the highest number on record. When this group tends to send tokens worth $2 billion or more to trading platforms, it usually marks a local bottom. Currently, the trading price of Bitcoin is only down 7% from its all-time high, and the investors who bought in the past week are the only entities that would incur losses.