๐ 4.08M BTC Held by Short-Term Holders: Is Selling Pressure Building?
Short-term holders (coins held under ~155 days) now hold about 4.08M BTC, the highest since mid-June, per on-chain analyst Axel Adler Jr. Thatโs up 12% since the July 29 low, with ~154K BTC added in the first two weeks of October alone.
The numbers:
๐น $BTC price: ~$81.4K (24h range $80.7Kโ$82.8K)
๐น STH cost basis (the groupโs break-even): ~$74.9K, with price above it since Aug 20
๐น Profit cushion: narrowed from ~16% to ~10% (about 9% at todayโs price)
๐น Where most new STH buyers entered: $82Kโ$86K, so price now sits just below that band
๐น Stablecoin supply: ~$303B, roughly flat and below Mayโs ~$322B peak
Why it matters:
More coins in newer hands means more supply that can hit the market quickly. A drop below ~$74.9K would put the whole cohort in aggregate unrealized loss, which can add selling pressure. With stablecoin supply flat, fresh dollar demand to absorb that supply is limited. Earlier this month, 45.6K BTC of STH coins moved to exchanges in a single day (29.1K at a loss), though transfers donโt prove selling.
My take: The setup looks slightly fragile, but this is not a confirmed sell signal. Watch the $74.9K level.
Will fresh demand absorb the supply, or will panic selling kick in? ๐
Not financial advice. Data as of Oct 17, 2026.
$BTC
#Bitcoin #OnChain #BTC #iqralogichub
Short-term holders (coins held under ~155 days) now hold about 4.08M BTC, the highest since mid-June, per on-chain analyst Axel Adler Jr. Thatโs up 12% since the July 29 low, with ~154K BTC added in the first two weeks of October alone.
The numbers:
๐น $BTC price: ~$81.4K (24h range $80.7Kโ$82.8K)
๐น STH cost basis (the groupโs break-even): ~$74.9K, with price above it since Aug 20
๐น Profit cushion: narrowed from ~16% to ~10% (about 9% at todayโs price)
๐น Where most new STH buyers entered: $82Kโ$86K, so price now sits just below that band
๐น Stablecoin supply: ~$303B, roughly flat and below Mayโs ~$322B peak
Why it matters:
More coins in newer hands means more supply that can hit the market quickly. A drop below ~$74.9K would put the whole cohort in aggregate unrealized loss, which can add selling pressure. With stablecoin supply flat, fresh dollar demand to absorb that supply is limited. Earlier this month, 45.6K BTC of STH coins moved to exchanges in a single day (29.1K at a loss), though transfers donโt prove selling.
My take: The setup looks slightly fragile, but this is not a confirmed sell signal. Watch the $74.9K level.
Will fresh demand absorb the supply, or will panic selling kick in? ๐
Not financial advice. Data as of Oct 17, 2026.
$BTC
#Bitcoin #OnChain #BTC #iqralogichub