PANews reported on October 2 that according to Coindesk, as geopolitical tensions in the Middle East intensified, the price of Bitcoin fell 3.7% in the past two days, with short-term holders selling about $3 billion worth of Bitcoin to exchanges at a loss.
According to reports, between September 30 and October 1, Iran launched 200 ballistic missiles at Israel, causing Bitcoin prices to fall and hit the worst start in October ever. Glassnode data shows that short-term holders (investors who hold Bitcoin for less than 155 days) sent about 64,000 Bitcoins (about $4 billion) to exchanges in the past two days, of which $3 billion was sold at a price below its average cost.
In contrast, long-term holders only sold 100 bitcoins at a loss during this period, showing stronger confidence in holding positions.
