Short Term Holders Dump Hard 📉
CryptoQuant analyst Darkfost noted Bitcoin short term holders sent over 23,000 BTC straight to exchanges while underwater after the Senate miss. In USD that pile was close to $1.8 billion and it marked the biggest capitulation move in roughly a month 🖤. STHs tend to freak out faster on wild swings so their moves flag fear zones pretty well, CQ pointed out. The September 15 reaction stands out since this group actually sat in some profit for almost a month before the drop, the longest stretch all year. The CLARITY setback crushed their freshly built confidence fast tho. Still these deposits only hint at possible pressure later, not every single coin sold for sure.Traders Priced It In Early 😭
Santiment data showed the market started shifting even before the final vote dropped. Just a day prior BTC spiked above $79,500 yet selling ramped up as whispers grew that the bill lacked enough support despite tweaks. On September 15 the coin had already slid to $76,000. Santiment highlighted traders were already repricing the odds of passage before the official fail, and social buzz went wild after. Chatter around the bill exploded way louder than back in May when it cleared the Banking Committee. The crew noted this proves how violently traders react once a bullish catalyst vanishes suddenly 🔮. Yesterday stung hard but the bill lives on in theory since this only delays things instead of killing it outright and another shot could still happen. The pain hit instantly tho while all eyes in crypto now pivot to the Fed and that FOMC meeting today 🦇.Just another echo from the void by iconofsin.eth 💖
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