December-January is currently showing a decrease in panic selling by short-term BTC holders.

Such conclusions can be drawn from the latest chart from #Swissblock. It shows how since July 2024, short-term BTC holders react to market fluctuations by transferring assets to exchanges during losses.

Against the backdrop of rising #BTC prices in December and January, a decrease in transfer volumes is highlighted. This means that holders are now becoming less prone to panic selling even during market fluctuations.

Compared to past corrections, short-term holders are showing more patience, aiming to wait for more favorable conditions to sell their assets. For this reason, the decline can be considered not finished, and the hunt for their liquidity will continue. But overall, this is a bullish signal. Historically, peak transfer volumes to exchanges often coincided with moments of retail investor capitulation, and the capitulation of short-term holders led to subsequent growth. Currently, such peaks are occurring less frequently, which may indicate the beginning of a more sustainable growth. Investor confidence is accumulating, which creates a foundation for further strengthening of the asset's price.