Long-term Bitcoin holders send 480 BTC per hour to exchanges during sell-off

Long-term Bitcoin holders sent an average of 480 BTC per hour to exchanges during the four-hour market sell-off on Oct. 15, significantly lower than the 2,200 BTC per hour sent by short-term holders during the same period. Analyst Murphy indicated this trend suggests easing downside pressure. The 2,200 BTC inflow from short-term holders was the fourth-highest since Bitcoin's rebound began in August. Previous instances of high exchange inflows occurred during rallies, but October saw spikes during declines on Oct. 8 and Oct. 15. Long-term holder inflows on Oct. 15 were lower than on Oct. 8, indicating minimal panic despite negative macroeconomic conditions. Murphy mentioned that some long-term holders might have temporarily moved BTC to centralized exchanges due to recent Ledger hardware wallet security concerns, but the simultaneous increase in inflows from both holder types during the Oct. 8 drop likely contributed to selling pressure on prices.

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