Glassnode data shows that in the past two days, short-term holders or those who have held Bitcoin for less than 155 days have sent 83,000 BTC (valued at approximately $7.8 billion) to centralized exchanges at a loss. This is the highest number on record, and analysts believe that when this group tends to send $2 billion or more worth of tokens to trading platforms, it usually marks a short-term bottom in the market. Currently, the Bitcoin trading price is only down 7% from its historical high, and investors who bought in the past week are the only entities to have suffered losses.

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