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As Bitcoin hovers around $75,000, an interesting movement is occurring. Short-term holders are sending large amounts of BTC to exchanges. Apparently, over 65,000 coins were inflowed just yesterday.
What’s notable is that most of these are profit-taking sales. About 61,000 coins seem to have been sold to realize gains. In other words, the price increase around $75,000 has become a sufficient profit-taking point for holders.
Short-term holders remain sensitive to price movements, and tend to lock in profits immediately with even slight upward moves. For now, it appears that any price increase is simply seen as an opportunity to sell.