Analyst: Short term investors have transferred nearly $8 billion worth of BTC to CEX due to losses in the past 2 days, which may represent a short-term bottoming out of the market

On November 27th, according to analyst Van Straten citing Glassnode data, short-term holders or those who have held Bitcoin for less than 155 days have sent $7.8 billion (83000 coins) worth of Bitcoin to CEX at a loss price in the past two days. Van Straten stated that this is the highest number on record. When this group of people tends to send tokens worth $2 billion or more to trading platforms, it usually marks a local bottom. At present, the trading price of Bitcoin has only fallen 7% from its historical high, and investors who bought in the past week are the only entities that will lose money.