Bitcoin Jumps 23% in Three Days as Short-Term Holders Send Most BTC to Binance Since February

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Bitcoin has jumped more than 23% over the past three days, fueling a sharp increase in profit-taking by short-term holders.

CryptoQuant QuickTake said on Aug. 22 that on-chain analyst Darkfost reported Bitcoin closed the previous session at about $78,300, up more than 7% on the day. Over the three-day stretch, the gain exceeded 23% and the cryptocurrency’s market capitalization grew by about $275 billion.

The rally was accompanied by heavier inflows to exchanges. About 53,000 BTC was moved to exchanges, including 17,800 BTC sent to Binance.

The analysis showed all of the Bitcoin transferred to Binance came from short-term holders. Investors who had bought Bitcoin less than a day earlier sent about 17,800 BTC to the exchange.

By contrast, holders who had kept Bitcoin for more than six months did not send any coins to Binance. Darkfost described the move as pure short-term speculation rather than structural selling.

The inflow from short-term holders into Binance was the largest since February. Darkfost added that such brief, impulsive trading is amplifying renewed volatility in the digital-asset market.