Short-term holders transfer record $4.3 billion in profits to exchanges

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Quick Take

Short-term holders, investors who have held Bitcoin for less than 155 days, transferred 65,000 Bitcoin in profit to exchanges on Mar. 6. According to data from Glassnode, this marks one of the highest amounts of profit sent in Bitcoin terms in the past five years, only surpassed by April 2019’s record when 75,000 Bitcoins were sent to exchanges. However, it’s worth noting that the price of Bitcoin at that time was roughly $5,000, while it now stands at around $66,000.

Short Term Holders in Profit to Exchanges: (Source: Glassnode)
Graph showing the Bitcoin-denominated transfer volume from short-term holders in profit to exchanges from March 2019 to March 2024 (Source: Glassnode)

This translates to roughly $4.3 billion in value, the highest ever recorded. Interestingly, this significant profit transfer comes shortly after STHs moved $2.6 billion worth of Bitcoin at a loss to exchanges, marking the third-highest loss transfer since May 2022.

Short Term Holders in Profit to Exchanges: (Source: Glassnode)
Graph showing the dollar-denominated transfer volume from short-term holders in profit to exchanges from March 2019 to March 2024 (Source: Glassnode)

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