BlockBeats News, January 17 — Crypto Quant analyst Axel posted an article stating that, according to the “Bitcoin Short-Term Holder 24-Hour Profit and Loss Transfer to CEX Total Chart” data, approximately 35,400 Bitcoin in profit flowed into CEXs in the past 24 hours, the highest in nearly two months. Meanwhile, the outflow of loss-making chips was very low, at only about 4,600. The profit/loss outflow ratio is approximately 7.5:1. Profit-taking behavior clearly dominates, with minimal panic selling.
Axel explained that the occurrence of high profit-taking in the context of extremely low loss rates is a logical market behavior. Investors who bought in the $85,000–$92,000 range are locking in profits by taking advantage of the price approaching the cost basis. This flow structure indicates that profit-taking behavior is the main source of market selling pressure, which is entirely different in nature from panic selling of loss positions. Once the profit/loss ratio reverses (i.e., loss-driven selling begins to dominate), bearish scenarios will intensify, but this is not an inevitable condition.
Various charts depict a coherent picture: the loss rate has narrowed to its lowest level, and it is precisely in this range that profit-taking activity becomes active. The price is testing the cost basis region while facing high supply pressure from profitable positions.
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