# Bitcoin (BTC) Short-Term Holders Move 47,300 BTC to Exchanges at a Loss By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/54799 Published: 2026-11-12T02:15:35.000Z Updated: 2026-11-12T02:15:35.000Z Section: Investing > After earlier profit-taking, losses became more common. A distribution phase that began in October led to a pullback of about 15%. Loss-making transfers accounted for 47,300 BTC of the 48,500 BTC short-term Bitcoin (BTC) holders sent to exchanges over a 24-hour period. Short-term holders shifted from profit-taking to losses becoming the more common position. The latest transfers marked one of the strongest capitulation episodes for short-term holders in recent months. Bitcoin’s distribution phase began in October and led to a pullback of about 15%. The latest 47,300 BTC figure compares with more than 36,600 BTC in [TokenPost’s earlier coverage of short-term-holder transfers at a loss](). ## Links in this article - [TokenPost’s earlier coverage of short-term-holder transfers at a loss](https://www.tokenpost.com/news/investing/45405)