In a notable shift, Bitcoin’s recent price surge has prompted short-term holders to move a substantial volume of BTC to centralized exchanges, totaling 61,000 BTC. This influx is reflected in on-chain data analyzed by CryptoQuant analyst Maartunn, highlighting a trend among short-term holders—those who acquired their Bitcoin within the last 155 days—who typically respond reactively to market volatility. As the cryptocurrency’s spot price rose rapidly toward the $76,000 mark, these investors capitalized on the opportunity to deposit significant amounts into exchanges. Such activities suggest heightened selling pressure in the market, reminiscent of previous panic selling events, although this recent uptick appears more driven by profit-taking behavior. The overall exchange inflow peaked at 11,000 BTC per hour during this rally, marking the most substantial rate since December and indicating a broader trend of investors seizing the moment to exit. The price of Bitcoin now stands at approximately $74,400, reflecting a 4% increase over the past week, yet its recent stalling suggests that incoming selling pressure may be tempering bullish momentum.
