After about a whole month of price action between $30k and $31k mostly, we just a few days ago took a wider swing down to $29k and even now do not seem to have the buy power to get back above $30k. Yesterday was also the day with the highest BTC liquidations since the XRP verdict we had recently. Surprisingly it was still only short-term holders that were selling.
Yes, once again long-term holders held their cool and don‘t care about such dips for ants, while short-term holders have definitely gone out of patience and just want to sell at any time. Short-term holders have really mastered the ancient trading strategy of “buy high sell low“.
Transfer Volume of short-term holders to exchanges in Loss, chart from James V.Straten on Twitter
Here is visual evidence too, the transfers of short-term holders in loss to exchanges have peaked during our fall to under $30k. Which shows how many short-term holders that bought or even just held at over $30k suddenly chose to sell due to a pitty dip for ants. Those are the real paper-hands.
But the good thing with all of this is that short-term hodlers that are such paper-hands will soon run our of fuel after repeated selling in losses, while we long-term holders still barely sell, as we know what a real dip and pump actually looks like and we have patience after waiting for a whole bull run too.
TLDR; long-term holders >>>>>>>> short-term paper-hands