BTC short-term holders selling into recent price rallies

Short-term holders (STH) have consistently sold large amounts of BTC during price rallies over the past two weeks, on-chain analyst Darkfost reported on X. He noted that as the price of BTC increased, so did the volume of deposits from STH addresses to exchanges. The selling pressure was particularly pronounced on April 15, April 21, and April 24, when 65,000 BTC, 54,600 BTC, and 39,000 BTC were moved to exchanges, respectively. According to the analyst, this indicates that short-term holders are quickly exiting the market at every available opportunity.