💰 STHs take profits !
For now, short term holders (STHs) remain highly sensitive to market fluctuations, even if the current move can be classified as a technical rebound.
👉 Some appear to be taking advantage of this positive price action to already realize profits.
As price approaches their realized price, currently around $102,000, their behavior seems to be increasingly focused on capital preservation.
On January 6, as BTC reached $94,000, a price level that had not been revisited since mid November, STHs sent more than 30,000 BTC in profit to exchanges.
💥 This behavior was even more pronounced yesterday, with over 40,000 BTC in profits sent to exchanges as BTC broke above $97,000.
STHs remain clearly impacted by the recent correction, and it seems that more upside and stronger confirmation will be needed to rebuild confidence and generate enough unrealized profits to encourage them to hold rather than sell.
