Bitcoin Bounce Fails As Short-Term Holders Rush To Take Profit

Bitcoin’s latest rebound to $74,050 on Thursday is running into immediate selling pressure as short-term holders move coins to exchanges in large volumes, suggesting the market’s most reactive cohort remains unconvinced by the recovery. On-chain data shared by CryptoQuant contributors indicates that traders who bought Bitcoin only weeks ago are now locking in gains rather than holding through the bounce, creating a fresh pocket of supply just as the market attempts to stabilize. Bitcoin Short-Term Holders Cash In According to CryptoQuant contributor Darkfost, more than 27,000 BTC in profits were sent to exchanges by short-term holders (STHs) over the past 24 hours, one of the largest spikes recorded in recent months. The metric tracks coins moved to exchanges by investors who are currently in profit, often interpreted as a precursor to potential selling pressure source: https://www.newsbtc.com/bitcoin-news/bitcoin-bounce-fails-short-term-holders-take-profit/