Quick Take
The influence of short-term holders on Bitcoin’s market dynamics was palpable yesterday on Oct. 17, as Bitcoin prices surged to $30,000, fueled by the misinformation of a spot exchange-traded fund (ETF) being reported by CoinTelegraph.
Short-term holders, defined as investors who purchased Bitcoin within the last 155 days, capitalized on this surge, selling approximately 30,000 Bitcoins at a profit. This marked the third-highest such instance this year.
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