[Analysis: During Bitcoin's drop from $87,000, long-term holders almost did not deposit coins to exchanges] BlockBeats News, October 9, Bitfinex stated in a post that Bitcoin is typically transferred to exchanges before being sold. However, during BTC's decline from $87,000, Bitcoin held for 6 months or longer showed almost no such behavior. Data indicates that the Bitcoin recently flowing into exchanges almost entirely consists of tokens that were transferred within the past week. Bitfinex pointed out that true market capitulation usually requires long-term holders to start transferring and selling their holdings, a sign that has yet to appear. [Original link]