Bitcoin drops 4% as short-term holders transfer 45,600 BTC to exchanges

Bitcoin declined by more than 4% during the week ended October 10, pausing a three-week rally that previously pushed prices from $75,000 to $87,000. The drop followed a 24-hour surge in which short-term holders transferred 45,600 BTC to exchanges, including 29,100 BTC moved at a loss—the largest loss-side inflow since June. Overhead supply also increased as U.S. government-linked wallets shed 17,468 BTC between October 6 and October 8. However, broader metrics showed holders realized $3.3 billion in net profits from October 2 to October 8, while institutional demand persisted with Fidelity's $354 million purchase.