Data: Short-term holders transferred nearly $8 billion worth of BTC to CEX in the last 2 days

Over the past two days, short-term holders, or people who have held bitcoin for less than 155 days, sent 83,000 BTC (worth about $7.80 billion) to CEX at a loss, according to Glassnode data. This is the highest number on record, and analysts believe that when this group of people tends to send tokens worth $2 billion or more to the trading platform, it usually marks a short-term bottom. Bitcoin is currently trading only 7% off its all-time high, and investors who bought in the past week are the only entities that will lose money.