The price trajectory of Bitcoin (BTC) has been largely positive since the US-Iran war, although it has also been volatile. On April 14, Bitcoin briefly rose above $76,000, its highest price level since early February.
I realized Profits It reached $1.14 billion during the rally, one of the largest single-day readings of the year. However, the gains failed to hold.
Likewise, Bitcoin’s price rally of over $75,000 yesterday was met with resistance once again. The price has been revised to $74,656 as of press time.
But what is holding back Bitcoin’s rise? According to signals on the chain, it is a short-term carrier.
Why are short-term bondholders putting a cap on Bitcoin’s rally?
Analyst Darkvost noted that short-term holders (STHs) significantly increased exchange inflows as Bitcoin tested $75,000 on April 15. Within 24 hours, More than 65,000 BTC moved to exchanges, where 61,000 BTC of profits were sent.
“At the moment, any price increase is treated as an opportunity to exit the market, either at a profit or at a loss. Yesterday, profits dominated, with 61,000 BTC sent to exchanges for a profit. “At this point, STHs remain very reactive to price movements,” the analyst wrote.
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On-chain analytics firm CryptoQuant has set the realized price for on-chain traders at $76,800 as a key resistance level. This measure reflects the average cost basis of short-term traders, and has historically limited relief rallies, including the January 2026 bounce.
Like Bitcoin $76,000 was tested earlier this week per hour Exchange inflows rose to nearly 11,000 BTC. This represents the highest reading since late December 2025. According to CryptoQuant, this is,
“A historically reliable warning signal of near-term selling pressure, as coin holders move coins to exchanges in preparation for potential distribution into key resistance areas.”
The exchange’s average deposit jumped to 2.25 BTC, the highest daily reading since July 2024. Large individual transfers of over 1,000 BTC to Binance fueled the increase.
Moreover, the share of large deposits as a proportion of total exchange flows rose from less than 10% to more than 40% within days around the level of $76 thousand.
The analysis added: “Daily realized profits remain at around $500 million – below the $1 billion threshold that historically represents a significant spike in profit taking in bear markets – suggesting that profit taking has not yet peaked. If Bitcoin maintains near $76,000 or rises further towards the trader’s realized price of $76.8,000, realized profits could accelerate sharply, adding further selling pressure in the near term.”
Glassnode Weekly a report reinforced this view. The 30-day moving average of the realized P/S ratio is 1.16, suggesting that investors are broadly selling aggressively.
The company set the real market average at $78,100 as the critical level for any sustained recovery. A move above this limit would require the market to absorb the current wave of profit-taking on a sustained basis, which… A will demandprominentCatalystaccording to the report.
With short-term holders treating each rally as an opportunity to exit and institutional participation continuing to rebuild, Bitcoin faces a clear oversupply. It must be absorbed by Any change in structural trend can develop.
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this post The biggest problem facing Bitcoin right now is not the market, but the owners appeared first on BeInCrypto.
