Bitcoin Short-Term Holders Transfer 41,800 BTC to Exchanges for Profit

Recent on-chain data highlights that short-term holders (STHs) of Bitcoin have transferred a significant amount of BTC to exchanges amid a recovery rally.

Key Observations:

STHs, who acquired their BTC within the last 155 days, tend to react quickly to market changes compared to long-term holders (LTHs).
The recent Bitcoin rally has prompted STHs to deposit a large volume of BTC to exchanges, primarily for profit-taking.
Profit-driven transactions from STHs have surged, reaching 41,800 BTC, while loss-driven inflows have decreased to 1,800 BTC.
Despite profit-taking, STHs overall still face a net unrealized loss as Bitcoin trades below the STH Realized Price, currently at $99,412.

Current BTC Price:

The price of Bitcoin has declined from its recent peak above $97,000 and is now around $94,600.