News

ChainCatcher announcement, due to the American Thanksgiving holiday (Thursday), trading hours in the United States will be shortened this week. The U.S. stock and bond markets will be closed for one day on November 28th (tomorrow) and will close early on November 29th (Friday). Precious metals, crude oil, foreign exchange and stock index futures contracts under the Chicago Mercantile Exchange (CME), as well as Brent crude oil futures contracts of Intercontinental Exchange (ICE), will close early on November 28th and 29th. This adjustment in trading hours will affect several financial product trades including Bitcoin futures. Investors are advised to make appropriate arrangements in advance and pay attention to position management.

According to a message from ChainCatcher, as reported by CoinDesk, analyst Van Straten cited Glassnode data showing that in the past two days, short-term holders who have held coins for less than 155 days transferred about 83,000 bitcoins at a loss price to centralized exchanges. This is worth approximately $7.8 billion and sets a new historical high. Van Straten pointed out that when short-term holders transfer more than $2 billion in bitcoin to exchanges at a loss, it usually signifies the formation of a local bottom. The data shows that currently about 678,000 bitcoins are in a state of loss. Bitcoin's current price has only fallen 7% from its historical high point; only investors who bought in the past week are at a loss.