Bitcoin demand has significantly decreased, with short-term holders (STHs) offloading 800,000 BTC since May 27, according to CryptoQuant data. This sell-off has contributed to a negative momentum of 2 million BTC, marking the worst on record. The decline in demand and increased selling pressure from STHs highlight the current bearish sentiment in the market.
Bitcoin Demand Plummets as Short-Term Holders Sell 800K BTC
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