Bitcoin Short-Term Holders Transfer 44,300 BTC to CEX, Marking Largest Profit-Taking Activity This Year

08/20 11:10

On August 20, crypto analyst Darkfost reported that Bitcoin recorded its largest single-day increase since February 2026, with a daily rise of 7.1%. This surge pushed Bitcoin prices above the cost basis for short-term holders (STH), triggering a large-scale profit-taking event. Data shows that short-term holders transferred over 44,300 BTC to exchanges yesterday, setting a record for the largest profit-taking activity since 2026. Currently, the cost basis for short-term holders is approximately $67,100, and after BTC surpassed this level, some previously profitable holders began to shift their assets. Darkfost noted that this rally was driven by several factors. U.S. Treasury Secretary Yellen previously announced that the U.S. would advance long-term Treasury buyback operations and double the scale of related activities, leading to a rapid decline in long-term U.S. Treasury yields. Subsequently, Trump spoke at a White House meeting focused on the crypto industry, stating that the U.S. is considering purchasing large amounts of BTC and urged Congress to pass the Clarity Act, while expressing a desire to facilitate Hyperliquid's entry into the U.S. market. The market remains attentive to whether these policy statements are merely discussions or reflect the U.S. government's genuine intention to become a global crypto hub. Currently, as BTC attempts to break through key resistance levels, including the short-term holders' cost basis, the on-chain behavior of short-term holders continues to warrant close observation.
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