#Strategy加仓BTC Bitcoin breaks through $97,000 at a critical point, and an interesting phenomenon has emerged—over 40,000 profitable $BTC are flowing into exchanges.

According to on-chain data, during the Bitcoin surge past $97,000 on January 15th, this influx was quite significant. But what does this reflect? Short-term holders seem to be taking profits during this rebound.

Interestingly, despite the strong upward price movement, the confidence of short-term holders doesn't seem to have fully recovered. They are still influenced by previous adjustments and are now more likely to realize gains when profitable. On-chain analysis indicates that these holders may need to see more sustained upward confirmation and greater unrealized profit potential before changing their strategy to hold rather than sell.

In other words, although the current rebound has attracted some profit-taking, to truly stabilize the mindset of short-term holders, Bitcoin may need to demonstrate a stronger upward momentum.