96% of older Bitcoin sent to exchanges is now underwater, CryptoSlate says
AI summary
CryptoSlate reports that about 96% of older Bitcoin being sent to exchanges is now underwater, meaning those coins were moved at a loss relative to their cost basis. Below-cost deposits fell 29.22% on November 10 versus the prior day but still made up roughly 96% of that cohort's exchange inflows. Traders watch loss-driven deposits as a sign of capitulation or potential sell pressure, since holders moving coins at a loss may be de-risking.
