Bitcoin Short-Term Holders Are Distributing Again — Local Price Top Imminent?
Bitcoin's price is currently about 4% below its recent all-time high, experiencing a typical weekend cool-off. On-chain data indicates that short-term holders (STH) are distributing their coins, which may contribute to the price stagnation. The supply held by STH has decreased, suggesting that these reactive investors are offloading assets as prices rise, a sign that the bull cycle may be nearing its end. The STH realized price is at $94,500, serving as a critical support level, while the long-term holder realized price is around $33,000, indicating differing behaviors between investor groups. Despite STH distribution in the past, Bitcoin reached new highs in 2021, suggesting potential for further price increases. Current Bitcoin price is just under $109,000, with a 0.4% rise in the last 24 hours and over 5% increase in the past week. Significant corrections may be anticipated after October 2025 based on macro signals and halving patterns.
