Bitcoin’s steep decline fueled by short-term holders

High-frequency traders and day traders rile Bitcoin market as prices plummet.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin's sudden drop to $86,000 has left the crypto market in turmoil, with waves rippling across the trading landscape. As analysts dig deeper, it appears the spark of this sell-off was surprisingly not in derivatives. Instead, the spotlight turned to the spot market and short-term holders. These "0d ~ 1d" traders made a significant impact. But who exactly are these influential sellers, and what drove their decision to offload holdings in such large volumes? Delve into the insights...