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

Quoting cryptovizart:
As price rallies toward $66k, LTH realized loss volume is spiking!

Cycle-top buyers are using the relief rally as an exit opportunity, locking in losses at a smaller margin than the sub-60k lows allowed. Selling into strength rather than waiting for recovery is a pattern consistent with exhausted conviction among underwater long-term holders.

📉 http://glassno.de/btc-lth-realized-loss