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<p>$BTC short-term holders just sent coins to exchanges at a loss for the first time in 72 days.

The profit-taking phase is over. Recent buyers are underwater and selling into weakness.

- STH Net P/L to Exchanges (7DMA): -3,022, down from +21,182 on Oct 24
- First negative print since Aug 18
- Price: 83.6K -> 77.8K in 9 days

The last two flips after a long profit run came in Jan at 89K and May at 76.9K. The reading fell to -60,768 and -41,364, and price dropped 28.5% and 23.2% before it bottomed.

If recent buyers keep dumping at a loss, I expect the same outcome. ⚠️</p>

$BTC short-term holders just sent coins to exchanges at a loss for the first time in 72 days.
The profit-taking phase is over. Recent buyers are underwater and selling into weakness.
- STH Net P/L to Exchanges (7DMA): -3,022, down from +21,182 on Oct 24
- First negative print since Aug 18
- Price: 83.6K -> 77.8K in 9 days
The last two flips after a long profit run came in Jan at 89K and May at 76.9K. The reading fell to -60,768 and -41,364, and price dropped 28.5% and 23.2% before it bottomed.
I

$BTC short-term holders just sent coins to exchanges at a loss for the first time in 72 days. The profit-taking phase is over. Recent buyers are underwater and selling into weakness. - STH Net P/L to Exchanges (7DMA): -3,022, down from +21,182 on Oct 24 - First negative print since Aug 18 - Price: 83.6K -> 77.8K in 9 days The last two flips after a long profit run came in Jan at 89K and May at 76.9K. The reading fell to -60,768 and -41,364, and price dropped 28.5% and 23.2% before it bottomed. If recent buyers keep dumping at a loss, I expect the same outcome. ⚠️

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