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Korean exchanges record $11.12B negative Bitcoin volume; Short-Term Holder Market Cap drops $65B in May 2026

Technical Signals
24 May 2026
Blockonomi
View Source
Bearish
pluang ai news

On May 19, 2026, Korean crypto exchanges Upbit and Bithumb recorded a combined negative Bitcoin spot volume of approximately $11.12 billion, with Upbit alone posting its largest-ever negative volume at -$9.3 billion. This unusual activity contrasted with Binance's positive volume of $1.1 billion the same day, indicating a regional volume imbalance. Following this, Bitcoin's Short-Term Holder Market Cap fell sharply by $65 billion between May 21 and May 24, dropping from $388 billion to $323 billion, a level not seen since June 2024. These events suggest significant selling pressure among newer Bitcoin holders in Korea, potentially signaling panic selling and highlighting how regional exchange activity can precede broader market shifts.

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