Hopes of a strong Bitcoin price recovery in April appear to have been put on hold as uncertainty continues to loom in the market. Especially now that the impact of recent economic wars threatens to spill over into a full blown recession.
Unsurprisingly, the market conditions have had quite the impact on Bitcoin holder sentiment. A recent CryptoQuant analysis looked into recent investor behavior, especially BTC holders that have been actively responding to the market changes.
The analysis particularly explored where the sell pressure on exchanges was coming from. The findings revealed that short term holders were the biggest contributors to the sell pressure.
The findings which analyzed data from the first 2 weeks of April revealed that shrimps (addresses holding less than 1 BTC) sold 480 BTC per day. For context, whales (with more than 1,000 BTC) sold an average of 70 BTC per day.
Shrimps also sold more BTC than sharks (addresses with balances between 100 and 1,000 BTC) wh
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