Bitcoin Rejects $80K as STH Profit-Taking Ramps Up
Bitcoin's push to $80,000 has lost momentum, shifting from explosive upward growth to a more cautious contraction phase. The price fell from $79,473 to $75,568 after strong selling near the psychological barrier of $80,000.
The rejection at $80,000 coincided with a sharp rise in Bitcoin sent to exchanges, with 53,000 coins entering exchanges over three days - a 23% price increase. This represents profit-taking along with the price.
Binance received 17,800 BTC, its largest Short-Term Holder (STH) inflow since February. Every transferred coin came from wallets holding BTC for less than one day, indicating no long-term holder involvement.
The rally remains liquid but structurally narrow, with short-term capital driving volatility rather than committed accumulation beneath price strength.