Viewpoint: Bitcoin Short-Term Holders Back in Profit Zone, Potential Selling Pressure Rising

BlockBeats News, August 24th, CryptoQuant analyst Axel Adler Jr. published a post stating that as the Bitcoin price quickly rebounded, the percentage of Short-Term Holders (STH) in profit in the supply surged from 26.1% on August 17th to a significant 74.9%, implying that nearly three-quarters of the previously loss-making short-term holders have returned to a profit range.

At the same time, the net profit and loss transaction flow of short-term holders has shifted from negative to positive, rising to 28,600 BTC on August 24th, surpassing the key level of 25,000 BTC. Data shows that as the average realized profit of short-term holders turns positive, the amount of BTC flowing into the trading platforms has significantly increased, indicating a rising potential selling pressure. If this metric continues to stay above 25,000 BTC, while Bitcoin's upward momentum slows down, the risk of short-term profit-taking and distribution pressure in the market will further increase.

The analysis believes that the rapid recovery of the profit percentage of short-term holders and the simultaneous increase in trading platform inflows reflect a coexistence of market repair and potential selling pressure. If the profit supply ratio further rises to above 90%, and at the same time, the price momentum weakens, the risk of the market being partially overheated will rise; conversely, if the trading platform flow drops back to around zero and the profit supply remains above 50%, it is more likely to indicate that the market is entering a relatively healthy consolidation phase.