Short-term holders send $1.8B in bitcoin to exchanges after $74,000 rally

Bitcoin climbed to a one-month high of $74,000 this week before slipping to about $69,000 as short-term traders took profits. CryptoQuant analyst Darkfost says short-term holders transferred more than 27,000 BTC — roughly $1.8 billion — to exchanges in profit over the past 24 hours, one of the largest spikes in recent months.

Only those who accumulated between one week and one month ago are currently in profit, with a realized price near $68,000, suggesting some recent buyers are locking in gains rather than extending positions. The selling by short-term holders reflects caution amid the ongoing war in Iran.

An analysis on Wednesday flagged a potential bull trap after price action mirrored January’s pattern, when a breakout to $98,000 was followed by a leg lower. That downward move accelerated on Friday after U.S. president Donald Trump demanded Iran unconditionally surrender, a development that also pushed oil prices higher.

United States

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