31,800 Coins Moved at a Loss

Key Insights:

• Over 31.8K BTC sent to exchanges at a loss signals panic from recent buyers.
• Bitcoin RSI drops to 26, touching levels last seen before major market rebounds.
• Net inflows rise sharply as traders exit; capitulation behavior often precedes trend reversals.

Bitcoin (BTC) was trading at $91,357, down over 3% in the past 24 hours and more than 12% in the last week. Daily trading volume has surged above $121 billion, reflecting high activity as prices fall to levels last seen in early Q2.

Recent data points to a sharp reaction from short-term holders, with a large volume of BTC moving to exchanges at a loss.

Short-Term Holders Exit as Selling Rises

CryptoQuant data shows that around 31,800 BTC were sent to exchanges by short-term holders, all at a loss. This transfer marks one of the largest capitulation events this quarter. The spike is visible in the 24-hour exchange P&L chart, where loss-driven inflows sharply increased.

Crypto analyst Crypto Patel commented, “This is where trends flip or break harder,” suggesting that the market could be at a key point.

Loss-driven inflows of this size often reflect panic exits. At the same time, profit-taking inflows have dropped, indicating that most recent buyers are now sitting on losses.

Oversold Conditions Trigger Caution

Bitcoin’s daily RSI has dropped to 26.46, falling below the standard oversold threshold of 30. This is the lowest reading since February, when BTC bottomed near $76,000 before recovering toward $120,000.

“Extreme fear is taking over; traders are selling fast… that usually marks the bottom,” said CryptosRus. While RSI readings this low often appear near short-term lows, traders are watching for further signs to confirm a turnaround.

Without a shift in volume or price structure, RSI alone doesn’t confirm a bounce.

Exchange Inflows Spike as Price Falls

Data from Binance shows a clear rise in BTC net inflows since late October. On multiple days, including October 30 and November 17, inflows exceeded 5,000 BTC. These spikes occurred while BTC dropped from over $114,000 to under $92,000.

Earlier in the period, flows were negative—more coins were being withdrawn. That trend reversed, with a series of inflows that point to rising sell pressure.

This shift aligns with other signs of capitulation, as traders offload positions during market stress. The next move will likely depend on whether prices can find support or break further under the weight of continued selling.