Bitcoin price is currently experiencing a cool-off period after approaching its recent all-time high, with on-chain observations suggesting a group of short-term holders distributing their coins.
The decrease in the Bitcoin Supply Held By Short-Term Holders indicator indicates ongoing distribution by reactive investors, signaling a potential final stage of the bull cycle.
Short-Term Holder realized price is at $94,500, serving as a key support level, while Long-Term Holder realized price stands at around $33,000, showing a behavioral difference between investor groups.
Despite the distribution by short-term holders, market intelligence platform believes there is still room for Bitcoin's price to increase, even though significant correction could start post-October 2025 according to on-chain signals and halving cycle patterns.