Bitcoin rises 7.1%: short-term holders take record profits

Bitcoin is having a remarkable week. After a daily gain of 7.1%, the strongest since February 2026, short-term holders sent no fewer than 44,300 Bitcoin to exchanges at a profit. That is the largest profit-taking event of this year. The price now stands at $71.800, an increase of 11.6% in 24 hours. Several statements from Washington appear to have fuelled the rally.

Bitcoin is available at OKX and Bybit.

In brief:

• Bitcoin rose 7.1% yesterday, its best daily performance since February 2026
• Short-term holders sent 44,300 BTC to exchanges at a profit, a record for 2026
• Statements by Trump and Secretary Bessent on crypto and government purchases of Bitcoin gave the market a boost

Record profit-taking by short-term holders

Analyst Darkfost points to remarkable on-chain activity around the price surge. Short-term holders, also known as short term holders (STH), sent more than 44,300 Bitcoin to exchanges at a profit in a single day. That is the highest level of 2026 and is visible as a historic peak in the CryptoQuant data.

The cost basis of this group is around $67.100. Now that the Bitcoin price has moved above that level, many short-term holders find it attractive to take profit. Darkfost notes that this behaviour is worth monitoring, especially now that Bitcoin is trying to break through important resistance levels.

Washington gives the market a boost

Several developments from the US appear to have accelerated the rise. Treasury Secretary Bessent announced that the US will continue its long-running buyback of government bonds and is doubling its size. That immediately had a downward effect on long-term interest rates.

Subsequently, President Trump spoke at a White House meeting specifically devoted to crypto. He indicated that the US is considering purchasing a substantial amount of Bitcoin. He also called on Congress to vote on the so-called Clarity Act, a bill intended to provide greater clarity on crypto regulation.

Trump also expressed his wish to bring Hyperliquid to the US. The platform recently filed a proposal with the SEC for pre-IPO futures. Whether Hyperliquid will actually establish a US presence remains unclear.

Whether the announced Bitcoin purchase by the government reflects serious policy intentions or political rhetoric remains an open question for now. That the statements had an immediate effect on the market is clearly visible in the price and the on-chain data.