Short-Term Bitcoin Holders Transfer 29,400 BTC to Exchanges at a Loss

Short-term Bitcoin holders transferred 29,400 BTC to exchanges at a loss while long-term holders distributed approximately 815,000 BTC over the past month, marking the highest level since January 2024. Data show long-term holder profit-taking has increased from roughly 12,500 BTC daily in early July to 26,500 BTC currently. Bitcoin is testing its 365-day moving average at $102,000, a key technical support level throughout this bull cycle.