Bitcoin short-term holders just moved from taking losses to locking in profits

Bitcoin-short-term-holders-just-moved-from-taking-losses-to-locking-in-profits

This chart tracks STH profit and loss to exchanges. After weeks of selling mostly at a loss (purple), the last 24 hours printed the biggest profit spike in this whole range (green) as the price grinds higher.

Takeaway: late buyers finally got liquidity and are selling into it. Big STH profit spikes tend to show up near local trend exhaustion, not at the start of a clean leg higher.