Bitcoin Resilience: ETF Inflows Soar Amid Short-Term Holder Profit-Taking

Bitcoin has maintained its value despite recent short-term holder activity that might indicate profit-taking. The digital currency's exchange-traded funds (ETF) have seen significant net inflows, with a 30-day total of $21.9 billion. This influx of money has driven the average Bitcoin held through spot ETFs into profit, with a realized price of around $72,000 to $73,000.

The data suggests that nearly 90% of the current $21.9 billion net inflow came during the August 17-22 period as BTC climbed from the low-$60,000s toward $80,000. However, CryptoQuant cautioned that this strength needs to be viewed in context and that the headline number can fall sharply once those days roll out of the 30-day window.

Short-term holders have been transferring Bitcoin to exchanges since August 19, with a total of 549,300 BTC moved. While exchange inflows do not prove that all these tokens were sold, they are generally treated as potential selling activity. Nevertheless, Bitcoin absorbed this selling pressure well and pulled back only 4.1% after reaching a local peak of $81,800.