The approach of $BTC to the resistance level of $75,000 has caused a clear behavioral change, creating a tug-of-war between short-term profit-taking and broader supply tightening driven by long-term holders.
🔹 In the past 24 hours, over 65,000 BTC have been transferred to exchanges, with 61,000 BTC recording profits. STH buying at lower price levels are using the current upward momentum as an exit opportunity, creating noticeable selling pressure and slowing momentum near resistance levels.
🔸 Conversely, the inflow of funds from Wholecoiners (those holding 1 BTC or more) into exchanges has decreased to about 27,500 BTC globally, in stark contrast to previous peak levels. HODL waves indicators show that older age groups, specifically the 2-year and 5-year groups, are continuing to expand rather than distribute. Long-term holders are steadily absorbing the supply, making prices more sensitive to new demand.
🔹 The liquidity of Bitcoin is tightening, with Total Reserves on Exchanges falling to nearly 2.45 million BTC. Despite periodic sell-offs from STH, the price has maintained stability in the range of $73,900 to $74,400, indicating that demand is currently intervening to absorb circulating supply without causing severe downward price reactions.
With STH actively taking profits and reserves on exchanges dropping to low levels, are you accumulating during this absorption phase or waiting for a complete breakout above $75,000?
News and information are for reference only and are not investment advice. Please read carefully before making decisions. $BTC 👇👇👇
