Oh, look! Someone got a little too excited about Bitcoin going up and decided to cash out like it’s Monopoly money. 🎲💰 On-chain data shows Bitcoin’s short-term holders-the financial equivalent of people who check their stock portfolio every 12 minutes-have sent a massive 41,800 BTC to exchanges during this little bounce-back party. Congrats, Karen, you made $300. Your yacht is waiting… in your dreams. 🛥💤
Short-Term Holders: Masters of Panic & Profit-Taking
In a dramatic twist no one saw coming (except everyone), Maartunn-CryptoQuant’s favorite on-chain Sherlock-posted on X about Bitcoin short-term holders (STHs) doing what they do best: reacting to price moves like they’re being chased by a bear in a financial horror movie. 🐻📉
Who are STHs, you ask? Glad you asked! These are the folks who bought Bitcoin in the last 155 days-basically the crypto version of someone who adopted a rescue dog and then returned it because it barked during a Zoom call. 🐶💼 Meanwhile, long-term holders (LTHs) are the “diamond hands” crew-the ones who HODL through thick, thin, and even when Elon tweets a cow emoji. 💎🙌
Historically, STHs are the market’s emotional support animals: reactive, jumpy, and highly sensitive to volatility. So when Bitcoin went on its mini-rally (it briefly looked like we might breach $97K, gasp!), of course these guys started sweating and hitting “sell” like it was a panic button. 🚨
One solid way to track this digital meltdown? Exchange inflows. And guess what? Maartunn dropped a chart that looks like a caffeine spike on an EKG. ⚡📊
The chart breaks down STH exchange deposits into two categories: “profit” and “loss.” Shocking, I know. And wouldn’t you know it-profit-taking inflows shot up to a wild 41,800 BTC in a single day. Meanwhile, loss-related inflows? Dropped to a measly 1,800 BTC. So yes, folks: the masses aren’t dumping because they’re broke-they’re dumping because they’re making money. Imagine that. 🤑
But-and this is a glorious but-before you crown these STHs as financial geniuses, remember: the entire short-term cohort is still underwater overall. 🌊😲
Enter: the “Realized Price.” No, it’s not how much your in-laws think Bitcoin is worth. It’s the average cost basis of all BTC bought in the last 155 days. And right now? The current price ($94,600, down from its $97K high-so tragic, pour one out 🥃) is STILL below that magic $99,412 level. Which means even with all the happy little profit-takers, most short-term buyers are still sitting on losses. Congrats on your emotional whiplash! 🎢
BTC Price: The Drama Never Sleeps
Bitcoin peaked above $97K this week-eliciting cries of “THE FUTURE IS NOW!”-only to dip back down to ~$94,600. Because of course it did. It’s not a rally if it doesn’t give you heart palpitations. ❤️🔥
So what’s the takeaway? Short-term holders are cashing out profits like it’s Black Friday at the crypto mall. Long-term holders are probably sipping tea, watching Netflix, and ignoring their wallets entirely. And us? We’re here, analyzing charts like therapists diagnosing a cryptocurrency with separation anxiety. 📉🧠
Stay calm. Keep your hands to yourself. And maybe don’t check your portfolio every 17 seconds. You’re fine. (Or are you?) 😏
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2026-01-17 09:07