According to Glassnode data, the recent activity of short-term Bitcoin holders (STH) has significantly increased. On January 12, the largest-scale STH activity since May 2021 occurred, during which $6.1 billion worth of Bitcoin was transferred. This large-scale transfer is mainly attributed to profit-taking, as Bitcoin reached a high of $49,000 due to the approval of an ETF. On January 15, in the largest single-day drop experienced by Bitcoin since the FTX crash, STH transferred a record $4 billion worth of Bitcoin. One day later, on January 16, these STH transferred $3 billion worth of Bitcoin to exchanges, with profits and losses almost equal, with profits at $1.6 billion and losses at $1.4 billion. These figures indicate that the volatility and activity of short-term Bitcoin holders have increased, indicating that market behavior is passive.

Market Analysis:

BTC: On the 4-hour chart, the price fell below the middle Bollinger Band, and the trend continues to be dominated by weak oscillations.

On the daily chart, there is support from the moving average below the price, but there are also multiple moving averages suppressing the price above.

In summary, the support level is at 42300, and the resistance level is at 42700.

ETH: The price continues to oscillate near the middle Bollinger Band, with a weaker trend, support at 2510, and resistance at 2540.

LTC: The price trend is weak, continuing to oscillate near the middle Bollinger Band, with short-term market trends being the main focus, support at 68, and resistance at 71.

BCH: The price is close to the lower Bollinger Band, with a weak price trend, support at 230, and resistance at 250.

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