Quick Take
Over the 48-hour period of Nov. 7 and 8, short-term holders, specifically those who have maintained their Bitcoin investments for less than 155 days, have extracted a staggering $1.8B in profits. This massive profit-taking marks one of the highest volumes observed this year, rivaled only by instances such as the aftermath of the SVB collapse, the ascent to $30k in June, and a recent surge when Bitcoin began its climb from a low of $25,000.
The supply of Bitcoin among these short-term holders currently sits at about 2.3M BTC, showcasing a continual decline.
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