Bitcoin's short-term holders return to profit, raising risk of fresh selling
AI Market Summary
CryptoQuant data shows Bitcoin's short-term holders rapidly moved back into profit, with the STH profit share rising to 74.9% and net realized P&L turning positive near 28,600 BTC. Historically, a shift to positive realized gains coincides with increased exchange deposits, implying higher near-term supply. If the indicator remains above the 25,000 BTC threshold as momentum cools, distribution and profit-taking pressure could intensify.
Impact level
● Medium
Affected assets
BTC/USDT+2.40%
AI Insight · BTC/USDTAI Insight
● Neutral
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
ChainThink said Aug. 24 that CryptoQuant analyst Axel Adler Jr. noted a sharp rebound in Bitcoin has pushed short-term holders (STH) back into the black. The share of STH in profit climbed to 74.9% on Aug. 24 from 26.1% on Aug. 17, meaning nearly three-quarters of short-term holders who were previously underwater are now profitable again.
STH net profit-and-loss trading volume also flipped positive, rising to 28,600 BTC on Aug. 24 and clearing the closely watched 25,000 BTC threshold. Data indicates that once STH average realized gains turned positive, BTC inflows to exchanges increased markedly, pointing to growing potential sell-side pressure.
The analysis adds that if the indicator holds above 25,000 BTC while upside momentum fades, short-term profit-taking and distribution pressure could intensify.
