Bitcoin dropped to $72,670 as short-term holders sent 47,025 BTC to exchanges at a loss, signaling potential capitulation pressure as prices fell below the $75,700 cost basis.
Bitcoin dropped to $72,670, an 11-week low since Aug. 20, breaking below short-term holders' average cost basis of about $75,700. Short-term holders sent 47,025 BTC to exchanges at unrealized losses in 24 hours, the third-highest total since July, signaling capitulation pressure. CryptoQuant warns a sustained break below $73,000 would confirm the downtrend that began in November 2025.
Bitcoin hit an 11-week low of $72,670 on Tuesday as short-term holders offloaded 47,025 BTC to exchanges at unrealized losses. This capitulation event marks the third-highest volume of loss-taking since July, as prices dipped below the $75,700 average cost basis for short-term holders.
Short-term holders, who own Bitcoin for up to 155 days, tend to sell when prices fall. On Nov. 10 roughly 27 BTC arrived at exchanges at a loss for every 1 BTC sent at a profit, showing intense selling pressure that pushed Bitcoin to $72,670, its lowest since Aug. 20.
CryptoQuant's Julio Moreno says a sustained break below $73,000, or a failed rebound above it, would strengthen the case that the downtrend that began in November 2025 is continuing.