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

Bitcoin experienced a sharp, short-lived rally to $74,000, which triggered significant profit-taking from short-term holders, who transferred over 27,000 BTC (worth $1.8 billion) to exchanges in the past 24 hours, according to CryptoQuant data. Only investors who bought between one week and one month ago, with a realized price near $68,000, remain in profit, suggesting recent buyers are locking in gains amid lingering caution, possibly due to the war in Iran. Despite this selling pressure, underlying support for the rally comes from expectations that the U.S. Clarity Act might pass, rising geopolitical tensions, and strong institutional demand, with some viewing Bitcoin as a "gold beta" trade. Furthermore, spot Bitcoin ETFs have shown resilience with significant net inflows this week.

(Source：CoinDesk)