According to CoinMeta, based on the monitoring of an early issuer in, analyst Axel Adler Jr stated that the price of BTC rose from approximately $63,000 to $77,000 within 8 days. The proportion of profits supplied by short-term holders increased from 26.1% to 74.9%. The net profit and loss indicator for short-term holders flowing towards exchanges turned from negative to positive, reaching +28,600 BTC as of August 24th, surpassing the +25,000 BTC level. Axel Adler Jr pointed out that if this indicator remains above +25,000 BTC and the upward momentum of BTC slows down, the risk of concentrated selling by short-term holders increases. However, if this indicator falls back near zero and the price of BTC remains stable, the potential selling pressure will be alleviated.