According to CoinMeta, short-term holders transferred over 47,000 BTC to exchanges when Bitcoin fell to a 11-week low of $72,670, resulting in the value of these coins being below their purchase price. According to CryptoQuant data, the total amount transferred in the past 24 hours was 47,025 coins, marking the third highest level since July. Analyst Julio Moreno stated that if Bitcoin continues to fall below $73,000 without a rebound, it will further strengthen the argument for an overall downward trend in Bitcoin.