Young Bitcoin Holders Panic Sell 148k BTC As Analysts Call For...

More than 148,000 Bitcoin have been sold at a loss by short-term holders, adding fuel to analysts’ predictions that BTC price will fall under $90,000.

Newer Bitcoin investors sold over 148,000 BTC at a loss on Nov. 14.

Analysts agree that pushing Bitcoin’s price below the Jan. 1 open at $93,000 could trigger a fresh downtrend to areas below $90,000.

Bitcoin (BTC) price dropped to $92,000 on Sunday, erasing nearly all of this year’s gains as the end of the US government shutdown failed to improve investor sentiment. This has led investors and traders to reevaluate their risks and stay cautious, with the most recent buyers selling their BTC at a loss.

Bitcoin has retraced 25% from its all-time high of $126,000 set on Oct. 16. The drop below the 50-week moving average and the weekly close below $100,000 for the first time in six months have cemented a more risk-off stance among Bitcoin investors.

Onchain data from CryptoQuant showed that over 148,000 BTC held by retail or newer entrants—those with less than 1 million BTC and having held for less than one month—were sold at a loss on Nov. 11.

Related: BTC price bull market lost? 5 things to know in Bitcoin this week

“This fire sale occurred with Bitcoin at roughly $96,853, a level far beneath their average purchase price of between $102,000 and $107,000,” said CryptoQuant analyst Crazzyblockk in a Quicktake analysis on Sunday, adding:

Additional data from Glassnode revealed that more than 20,175 BTC were transferred by short-term holders — investors who have held the asset for less than 155 days — to exchanges at a loss on Thursday. This surged to 39,034 BTC on Nov. 14, coinciding with a 13.5% drop in BTC’s price to $92,900 from $107,500.

This activity underscores a familiar behavioral pattern where short-term speculators panic-sell during market dips, frequently realizing losses.

Source: CoinTelegraph