Binance Data: Rate-Cut Sell-Off Came From Short-Term Traders

When the U.S. Federal Reserve cut interest rates on October 29, the price of Bitcoin (BTC) dropped sharply, prompting traders to send more than 10,000 BTC to Binance and raising questions about whether it was a “sell the news” event or the start of a new crypto winter.

But a CryptoQuant analyst has now released new information that shows that most of the selling was done by one group: traders who had only held their Bitcoin for less than a day.