Short-Term Bitcoin 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 large-scale profit-taking among them. 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; after BTC surpassed this level, some holders who were previously in profit began to shift their assets. Darkfost noted that this price increase was driven by several factors. U.S. Treasury Secretary Yellen previously announced that the U.S. would advance long-term Treasury bond repurchase operations and double the scale of these operations, 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 a significant amount of BTC and urged Congress to pass the Clarity Act, while also expressing a desire to facilitate Hyperliquid's entry into the U.S. market. The market continues to monitor whether these policy statements are merely discussions or indicative of the U.S. government's genuine intention to become a global crypto hub. As BTC attempts to break through key resistance levels, including the short-term holders' cost basis, their on-chain behavior remains a point of ongoing interest.
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