TechFlow news, on June 11, according to CryptoQuant analyst Axel Adler Jr., short-term holders sold an average of approximately 21,000 bitcoins through centralized exchanges (CEX) in the past 24 hours, below the historical average level of selling pressure. This indicates that despite the rise in Bitcoin's price, short-term holders are currently in a relatively calm state and are not rushing en masse to lock in profits.
The analyst noted that $120,000 will become the next psychological milestone for many market participants. As the price approaches this level, profit-taking activities may increase. Similar reactions have been observed multiple times whenever Bitcoin reaches round-number price levels.
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