Despite the slight recovery of Bitcoin, STHs (Short Term Holders) do not seem convinced and prefer to take profits quickly.
Over the past 24 hours, STHs have sent more than 27 000 BTC in profit to exchanges, which ranks among the highest levels observed in recent months.
The only STH currently able to realize profits are those who accumulated between one week and one month ago.
Their realized price is around $68,000.
STH are known for being reactive and emotionally driven, especially the youngest cohorts.
Current news flow and macroeconomic projections remain rather negative in the short term, which makes this behavior relatively understandable and, in this case, fairly rational.
For now, this represents selling pressure to monitor, as STH do not yet appear willing to hold their positions for longer.
Written by Darkfost