Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»ADOPTION NEWS»Bitcoin price falls below $42,000 as short-term holders take profits.
ADOPTION NEWS

Bitcoin price falls below $42,000 as short-term holders take profits.

By Crypto FlexsDecember 11, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price falls below ,000 as short-term holders take profits.
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin BTC

-4.74%
A price correction was seen earlier in the week, with the digital asset falling below $42,000 on Monday.

According to ETC Group analysis, this price adjustment is linked to an increase in the circulation of Bitcoin, which is currently profitable.

“The cryptocurrency asset has been on a downward trend recently as Bitcoin investors are taking more and more profits,” André Dragosch, head of research at ETC Group, told The Block.

According to Dragosch, the overall market is in a strong profit environment, which means some investors tend to profit from their positions. According to ETC Group analysis, 88.3% of Bitcoin addresses and 77.6% of Ethereum addresses are making profits.

“These rates are close to the highest to date,” ETC said in its report.

However, the report highlighted that monetization activity occurred primarily among short-term Bitcoin holders with holding periods of less than 155 days. “Transfers of Bitcoin to exchanges for the benefit of short-term holders have reached their highest level since July this year,” the report added. This has certainly curbed the current uptrend somewhat due to increased selling pressure, the report added.

ETC group chart showing Bitcoin price and BTC realized profits transferred to exchanges.

Confirm net outflow of cryptocurrency funds

According to ETC Group analysis, the first weekly net outflow occurred from products traded on cryptocurrency exchanges since early October last week. “For the week ending Friday, we saw a total net outflow of $18.2 million,” Dragosch said.

According to the analysis, most of these outflows were concentrated in Bitcoin ETPs, totaling $13.1 million. However, the ether ETP attracted net inflows of $5.8 million.

Bitcoin was down more than 4% as of 9:20 a.m. ET. change hands For $41,980. The global cryptocurrency market capitalization also decreased by more than 4% to $1.64 trillion.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

As you challenge the mixed technology signal, OnDo Price Hovers challenges the August Bullish predictions.

August 7, 2025

XRP Open Interests decrease by $ 2.4B after recent sale

July 30, 2025

KAITO unveils Capital Launchpad, a Web3 crowdfunding platform that will be released later this week.

July 22, 2025
Add A Comment

Comments are closed.

Recent Posts

FLOKI’s Valhalla MMORPG Storms U.S. Television With 60-Day National Commercial Blitz

August 11, 2025

A Global Initiative To Transform Crypto Education From The Ground Up

August 11, 2025

Cango Inc. Acquires 50 MW Bitcoin Mining Facility In Georgia, Laying Groundwork For Future Energy Strategy

August 11, 2025

SIM Mining Cloud Mining Allows Global Investors To Easily Earn BTC And DOGE Profits Using Just Their Smartphones (daily Income Of $23,999 USD)

August 11, 2025

MultiBank Group Delivers Record H1 Results With $209M Revenue And MBG Token Driving 7X Returns Since Launch.

August 11, 2025

The Animoca brand invests in a nice cat

August 11, 2025

Is Alt Season finally here, just as Ether Lee’s tearing and a small cap follows?

August 11, 2025

Flareonix airdrop is live! Under the share of 100m FXP today!

August 11, 2025

Carv can be used for transactions!

August 10, 2025

Ethereum (ETH), SEI (Sei), and Bonk (Bonk) gathered in July, but one token is prepared to dominate next.

August 10, 2025

Floki and OnDo expand their profits as Robinhood Listing strengthens.

August 10, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

FLOKI’s Valhalla MMORPG Storms U.S. Television With 60-Day National Commercial Blitz

August 11, 2025

A Global Initiative To Transform Crypto Education From The Ground Up

August 11, 2025

Cango Inc. Acquires 50 MW Bitcoin Mining Facility In Georgia, Laying Groundwork For Future Energy Strategy

August 11, 2025
Most Popular

Illuvium Preview: Everything You Need to Know About NFT Games

November 27, 2023

Astar zkEVM drives ecosystem growth through development studio

May 21, 2024

Are Ethereum Bulls Rising? An important indicator of a major uptrend

May 16, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.