Short-Term Bitcoin Holders Send 27,000 BTC to Exchanges on March 6, Marking Strongest Profit-Taking Since Jan. 14, 2026
Short-term Bitcoin holders transferred 27,000 BTC, valued at approximately $1.86 billion, to centralized exchanges for profit on March 6, representing the highest profit-taking activity since Jan. 14, 2026, CryptoQuant on-chain data show. The selling followed a relief rally that pushed BTC to a local high near $74,000 in early March before spot demand weakened, with U.S. spot Bitcoin ETFs recording about $228 million in net outflows on March 5, SoSoValue data show. Bitcoin's Open Interest fell from $49.66 billion on March 5 to roughly $45.26 billion, while a CryptoQuant analyst noted short-term holders have a realized price near $68,000 and are responding to negative near-term news and macroeconomic outlooks. Trading expert Ali Martinez identified a death cross between BTC's 50 and 200 SMA on the 3-day chart, warning it could signal a final downside move in the current cycle, though he added a rebound above $94,000, potentially driven by a short squeeze, might indicate a new macro bull phase.