On-chain data shows Bitcoin short-term holders have transferred a large amount 
of tokens to exchanges alongside the asset&#8217;s recovery rally. Bitcoin Short- 
Term Holders Have Made Profit Transactions To Exchanges In a new post on X, 
CryptoQuant community analyst Maartunn has talked about the latest trend in 
the exchange deposit transactions of Bitcoin short-term holders (STHs). 
Related Reading: XRP In A ‘Super Cycle’? SuperTrend Suggests Another Story 
STHs include the BTC investors who purchased their coins within the past 155 
days. They make up for one of the two main sides of the network divided on the 
basis of holding time, with the other side being known as long-term holders 
(LTHs). Historically, the STH cohort has proven to represent the weak hands of 
the market, who easily react to market volatility. In contrast, LTHs include 
the diamond hands of the sector. Bitcoin has witnessed a recovery rally 
recently, so, considering the track record of STHs, some selling from them is 
likely to have occurred. One way to track distribution from the group is 
through its exchange inflow data. Below is the chart shared by Maartunn that 
shows the exchange deposit transactions that Bitcoin STHs have made over the 
last couple of months. In the graph, the STH exchange inflows are shown 
separately for profit and loss transactions, based on whether holders held an 
unrealized gain or loss before sending the tokens to exchanges. From the 
chart, it&#8217;s apparent that the 24-hour sum of the STH exchange deposit 
transactions in profit has shot up as the cryptocurrency has gone through its 
rally, reaching a high of 41,800 BTC. Meanwhile, loss exchange inflows have 
shrunken, falling to a low of 1,800 BTC. Thus, it would appear that selling 
focus from STHs has largely shifted to profit-taking. Though, while some STHs 
may be harvesting profits, the cohort has a whole is still in a state of net 
unrealized loss as Bitcoin is trading below the STH Realized Profit, as 
highlighted by the analyst in another X post. The &#8220;Realized Price&#8221; is an on- 
chain metric that measures the average cost basis of Bitcoin investors or 
addresses as a whole. The STH version specifically tracks the break-even level 
of the supply purchased within the past 155 days. Related Reading: Bitcoin 
Rally Accompanied By ‘Very Bullish’ Whale-Retail Behavior, Santiment Says As 
displayed in the above chart, the Bitcoin spot price plummeted under the STH 
Realized Price during the drawdown of Q4 2025. Since then, it has remained 
under the line, although the latest rally has brought it close. Currently, the 
indicator&#8217;s value is situated at $99,412. BTC Price Bitcoin has gone down 
since its high above $97,000 earlier in the week as its price is now trading 
around $94,600. Featured image from Dall-E, chart from TradingView.com

Bitcoin Short-Term Holders Take Profits: 41,800 BTC Sent To Exchanges

The NFT market recorded $61.5 million in sales volume over the past week, 
posting a modest 1.52% increase from the previous period. While the sales 
figures show minimal movement, the real story lies in market participation. 
NFT buyers jumped 120.90%…

NFT buyers rise 120% despite sales staying flat at $61.5 million

In 2025, bitcoin reached historic highs but the expected “altseason” never 
materialized. Analysts point to institutional ETF inflows, diluted capital 
from thousands of new token launches, and investor preference for utility- 
driven projects as reasons for the collapse. Wintermute’s review shows altcoin 
rallies shrank to ~20 days versus 45–60 in prior years. A Paradigm Shift in 
[…]

The Death of the Altseason: Why the 2025 Cycle Never Happened

Bitcoin may be replaying a market structure that historically preceded one of 
its most powerful rallies. A high-timeframe trader has identified a fractal 
that closely mirrored Bitcoin’s behavior ahead of the 2021 bull run. He argues 
that the current cycle is unfolding in line with a well-established structural 
script observed across multiple market cycles spanning more than a decade. 
Bitcoin’s Fractal: Rooted In High-Timeframe Structure The fractal highlighted 
by the trader is based on a direct structural comparison between Bitcoin’s 
current cycle and the 2021 setup, illustrated in a chart he attached to his 
analysis. The chart aligns both periods to show how price advanced into a 
broad distribution range, rolled over into a sharp corrective phase, and then 
attempted to recover while capped by descending resistance. In both cases, 
Bitcoin retraced to the 0.382 Fibonacci level before stabilizing, marking a 
shared technical inflection point rather than a coincidental price overlap. 
Related Reading: XRP Price Is Approaching A Key Decision Zone, But Structure 
Is Still Firmly Bullish This structural symmetry extends beyond price levels 
into timing. According to the trader, the current cycle has tracked the rhythm 
of prior four-year cycles with notable consistency, allowing historical all- 
time highs and lows to be mapped objectively. Using that same framework, the 
data previously supported a high-probability short near the peak candle around 
$123,000, reinforcing his view that recurring market structure continues to 
guide directional risk. By comparing the two cycles directly, the trader 
argues that Bitcoin’s behavior is being evaluated through a recurring 
structural pattern that has remained intact for more than 12 years, rather 
than through subjective bias. $100,000 As A Structural And Psychological 
Ceiling Within the identified fractal, psychological resistance is a key 
determinant of Bitcoin’s upside potential. Looking back at 2021, Bitcoin 
failed to decisively reclaim the $50,000 level and instead front-ran it before 
reversing, establishing a behavioral precedent for how traders respond to 
significant round-number thresholds. Applying this pattern to the current 
cycle, $100,000 now functions as the analogous psychological ceiling. As a 
result, some participants may act preemptively, which could generate selling 
pressure from underwater holders and distribution by larger players. Related 
Reading: Pundit Reveals The Biggest Enemy Of XRP Investors As Price Struggles 
At $2 This potential resistance is reinforced by diagonal trendlines that 
mirror the caps observed in 2021, creating a structural limit on upside 
momentum. Within this context, short-term extensions into the $98,000–$99,000 
range remain plausible and are fully compatible with the fractal, as price can 
approach the psychological ceiling. Moreover, positioning data from the past 
six to eight months indicates that the median short-term buyer cost basis has 
clustered between $95,000 and $100,000, highlighting zones where profit-taking 
and defensive selling are likely to intensify. These elements suggest a 
scenario where price may test resistance, experience temporary stalls, and 
respect structural limits without invalidating the broader high-timeframe 
thesis. However, the trader notes that the framework is probabilistic: only a 
sustained move above $104,000–$105,000 would break the fractal pattern and 
necessitate a full reassessment of the high-timeframe trend. Featured image 
created with Dall.E, chart from Tradingview.com

Bitcoin Flashes Near-Identical Fractal Before The 2021 Bull Run Started

Vitalik Buterin wants improved private payments, easier running of full nodes, 
decentralized apps that don’t rely on centralized services, and more on-chain 
privacy.

Cryptocurrency price in USD