Nearly 50,000 Bitcoin Moved to Exchanges at a Loss as Short-Term Holders Capitulate

Nearly 50,000 BTC flowed to exchanges at a loss in 24 hours, the largest capitulation move since early June, as short-term holders face mounting unrealized losses amid macro uncertainty and weak institutional demand.

• Short-term holders sent ~50,000 BTC to exchanges at a loss in the past 24 hours, the biggest such move since early June 2026
• Short-term holder realized market cap fell to $237.7 billion, its lowest since October 2024, signaling widespread unrealized losses
• About 9,500 BTC went to Binance alone, the highest daily reading for the exchange this month
• The Coinbase Premium Index has been negative for ~40 consecutive days, indicating weak U.S. institutional buying
• Long-term holders are accumulating: inflows to accumulation addresses hit a record 181,000 BTC this week

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