According to Cointelegraph, new research from CryptoQuant shows that long-term Bitcoin holders (LTH) are reducing their BTC exposure, while short-term holders (STH) are increasing their risk.

CryptoQuant data shows that LTH, which has held BTC for more than 155 days, has seen its BTC exposure drop sharply from $1.9 billion to $1.2 billion, a decrease of $600 million, indicating that they may be taking profits or closing buy positions.

Conversely, STHs that have held BTC for 155 days or less increased their exposure by $0.6 billion from -$1.7 billion to -$1.1 billion, indicating that they may be increasing their risk or buying positions.

Furthermore, BTC price is interacting closely with BTC realized price moving within 1 day to 1 week, with the current realized price at $62,080, almost the same as the spot price. Multiple interactions indicate that traders are closely watching this level, which could lead to a short-term correction.

Previously, Cointelegraph reported on the recent wave of exchange withdrawals, the largest since November 2022.