Bitcoin surged from $63,000 to $77,000 in just one week, with short-term holder supply in profit jumping from 26.1% to 74.9%. Net exchange inflows for short-term holders reversed sharply from -18,700 BTC to +28,600 BTC, signaling a shift from capitulation to profit-taking. Bitcoin posted monthly gains of 22-25% in August, its strongest August performance in over a decade, fueled by substantial ETF inflows. Analyst Axel Adler Jr. flagged a threshold of 25,000 BTC in sustained net inflows that could signal market overheating risk.
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