Analyst: Bitcoin price falling below the short-term holder average has triggered market panic, while whales continue to accumulate during the decline

ChainCatcher news, on-chain data analyst Murphy posted on social media that when the price of bitcoin fell below the short-term holder average price of $108,000, short-term sentiment shifted from anxiety to panic. Currently, it coincides with a weekend period of low liquidity, which is prone to significant volatility.

For investors who remain optimistic about the long-term trend of BTC, they have not stopped accumulating during the pullback. The BTC balance on a certain exchange trading platform sharply decreased by 41,512 BTC within two days from August 27 to August 29. According to previous on-chain tracking, the address of this exchange is closely associated with some treasury companies, traditional institutions, and OTC platforms.