Bitcoin fell over 4% this week after a three-week rally that pushed it from $75k to $87k. Short-term holders transferred 45.6k BTC to exchanges in 24 hours, including 29.1k BTC sold at a loss, marking the largest loss-side exchange flow since June. However, Santiment data shows Bitcoin holders realized $3.3 billion more in profits than losses between October 2nd and 8th, suggesting profit-taking rather than panic selling. Massive institutional buys like Fidelity’s $354 million BTC purchase and $3.3 billion in short positions at risk of liquidation near $85k indicate buyers remain firm, hinting at a potential bear trap.
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