Bitcoin’s latest rebound to $74,050 on Thursday is running into immediate selling pressure as short-term holders move coins to exchanges in large volumes, suggesting the market’s most reactive cohort remains unconvinced by the recovery.
On-chain data shared by CryptoQuant contributors indicates that traders who bought Bitcoin only weeks ago are now locking in gains rather than holding through the bounce, creating a fresh pocket of supply just as the market attempts to stabilize.
Bitcoin Short-Term Holders Cash In
That positioning places them directly in the money after Bitcoin’s latest bounce toward the low-$70,000 range, creating a natural incentive to exit positions quickly.
“STH are known for being reactive and emotionally driven, especially the youngest cohorts,” Darkfost noted. “Current news flow and macroeconomic projections remain rather negative in the short term, which makes this behavior relatively understandable and, in this case, fairly rational.”
For now, that behavior translates into near-term supply. “This represents selling pressure to monitor, as STH do not yet appear willing to hold their positions for longer,” he added.
Repeated Pattern Around Range Highs“Deviations above the Range High keep getting sold,” Maartunn wrote. “Over the last few months, BTC has shown the same pattern three times: break above the range high, short-lived deviation, sharp move lower.”
The pattern was visible in early-October 2025 and mid-January 2026. Breakouts above local range highs were followed by rapid pullbacks, reinforcing the idea that liquidity above resistance levels has been used primarily as an exit point for sellers.
At press time, Bitcoin traded at $70,127.
