Adding to the sell-side pressure from LTH loss realization, short-term holders who bought near the recent lows are now taking profit at volumes last seen close to the peak in May. Two forces anchoring the rally simultaneously: 1- Cycle-top buyers reducing losses into strength 2- Local-low buyers locking in gains. Both are selling into the same price recovery. 📉 http://glassno.de/btc-sth-realized-profit(glassnode)