Bitcoin's rise from about $63,000 to $77,000 over the past eight days has lifted the share of supply held by short-term holders (STH) in profit from 26.1% on Aug. 17 to 74.9%. CryptoQuant analyst Axel Adler Jr. said the STH net profit-and-loss indicator for coins sent to exchanges turned positive and reached +28,600 BTC on Aug. 24, exceeding the +25,000 BTC level. If the indicator remains above that threshold while Bitcoin's upward momentum slows, the risk of concentrated selling by short-term holders could increase. A return toward zero while Bitcoin remains stable would instead suggest that potential selling pressure is easing.