Bitcoin Short-Term Holders Send 18,600 BTC to Exchanges at a Loss in 24 Hours

The swing from a positive profit-inflow balance to a deeply negative one within a week points to a fast shift in short-term holder behavior, with recent buyers now capitulating rather than taking gains. The fact that the metric has stayed negative since August suggests this is less a one-day blip than a persistent pattern of loss-taking by coins held under six months. That cohort's stress matters for exchange flow dynamics and near-term supply pressure. Whether the negative balance persists or reverts toward neutral is the open question.