Bitcoin long-term holders barely deposited coins to exchanges during the drop from $87,000

Odaily reports that Bitfinex analysis indicates Bitcoin is typically moved to exchanges before being sold, but during Bitcoin's decline from $87,000, coins held for 6 months or longer were hardly transferred to exchanges. Data shows that nearly all Bitcoin recently flowing into exchanges consisted of tokens that had been moved within the past week. Bitfinex notes that true market capitulation usually requires long-term holders to begin moving and selling their holdings, and this signal has not yet appeared.