🚨 Who is dumping? On-chain data reveals the truth: it's not the veterans, it's the short-term profit takers! 🚨

Bitcoin has fallen to the critical support level of $85,000, and market panic is spreading. However, the latest on-chain data shows that this decline is not due to long-term holders (LTH) selling off. The real sellers are short-term holders (STH), who took profits as the price approached $88,200, with 86.8% of the BTC transferred to exchanges being sold at a profit.

What does this mean? There is no structural collapse or capitulation from long-term believers in the market. This is more like a healthy profit-taking and position adjustment, building strength for the next wave of movement. As long as the $85,000 support holds, the long-term upward trend remains intact.

💡 Key Insight: Panic selling has not occurred. The real 'whales' and long-term holders are still holding strong. The current volatility is the market digesting the gains, rather than a trend reversal. Watch for the breakout direction at the $85K support and the $90-92K resistance range.

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