We had the biggest short-term holder capitulation since the FTX crash when we plunged down to $25k and short-term holders still have at least 2.1M BTC left to drop on the market.

This recent crash was just as volatile as possibly, which was highly expected after weeks and months of literally no price action at all. Sadly for us, markets had to choose the direction down instead of up on this long pending move. And let me tell you, that bears did indeed do A LOT of damage.

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Short-term holders transferring the most BTC to exchanges since FTX last year

We just had the biggest short-term holder capitulation since the FTX crash itself, when BTC fell below even $20k to $15k. This current crash was even more brutal for short-term holders than the much-feared Silicon Valley Bank crash in Crypto. And let me tell you that this is not even the worst yet, it could possibly get quite a bit worse…

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Still at least 2.1M BTC left in losses from short-term holders

Here you can see the amount of BTC short-term holders still left and that in losses. We can also see how that amount had eclipsed the peaks of the SVB collapse and even the SEC FUD around Crypto when they were handing out lawsuits to nearly every altcoin. Those are still 2.1M BTC left in losses, all of those could be moved to exchanges to get out of the market and further short-term holders even have another 400k BTC, on which they would probably like to take profits before the market goes lower.

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Even current small dip from 27k to 25.5k caused massive short-term holde capitulation

Also just recently we have seen another surge of short-term holders transferring their holdings onto exchanges to possibly sell them, this was the fourth biggest of this year alone.

So yeah, saying we can't go lower right now, is quite the dangerous and uncertain call to make. Be, financially and mentally, prepared for the worst.