Some two-thirds of the coins moving onto exchanges are long-term holders taking losses, as a macro risk-off drags on Bitcoin’s price.
Source: [Decrypt](https://decrypt.co/373696/bitcoin-tests-63k-as-long-term-holders-keep-selling-at-a-loss)
Wall Street and crypto's convergence snapped into focus, while crypto majors gave back most of the week's gains as broader markets sold off.
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Flows through the critical waterway haven’t fully stopped, but signs of stress in the market are mounting.
Glassnode has identified Bitcoin's short-term holder cost basis near $69,000 as the market's next major recovery test, potentially affecting the outcome for altcoins such as XRP. Reclaiming that level would give the current rebound real room to run, and the firm's own July 15 report frames it as...
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