Short-term investors are selling Bitcoin at an unprecedented rate.

STH Net Position Change (30D) data shows that over 1.2 million $BTC have left the hands of short-term holders in just 30 days.
This is the strongest distribution ever recorded in $Bitcoin history.
New investors are panicking and selling off, leverage is being liquidated en masse, and speculative profits are being wiped out.
History shows that when a large portion of the weak supply is removed from the market, selling pressure usually decreases significantly, paving the way for a new accumulation cycle.
The current market is reflecting fear.
But on-chain data is showing that Bitcoin supply is shifting from those lacking confidence to those willing to hold long-term.