Short-term Bitcoin holders are giving up.

Short-term #Bitcoin (BTC) holders have started selling in unprecedented amounts.

On-chain data has drawn attention in BTC, which has gained strength since the beginning of the week and has made a recovery increase of nearly 3 percent. CryptoQuant writer IT Tech claimed that short-term BTC holders have left the market.

Despite short-term investors moving away from BTC, long-term players continue to save. The data showed that these investors maintain their bullish belief.

The US inflation data increased speculation that the Fed will lower interest rates, which had a positive impact on the Bitcoin (BTC) price. BTC regained $58,000 after falling to $52,500.

Despite the positive outlook in BTC, it was noteworthy that Bitcoin miners were selling and short-term $BTC holders were moving away from the market.

“Short-term Bitcoin holders have a more immediate effect on the price and contribute to volatile price movements by selling.”

CryptoQuant’s research director Julio Moreno stated that risk-averse investors may increase in a period when the negative correlation between Bitcoin and gold continues. The analysis, which shows an increase in the number of investors who want to hold less volatile assets such as gold, also highlighted the outflows in the US stock markets. The loss of blood in the markets was attributed to short-term investors.

Short-term Bitcoin holders are selling at a loss. Traders who have held #BTC for 155 days or less are reducing their positions due to fears that prices may fall further. On the other hand, long-term BTC holders continue to buy the asset.

The market continued its downward trend as the Bitcoin price was trading below the 50-day and 100-day Simple Moving Averages (SMAs).