Bitcoin holders are cashing out, just not the way they did at prior market tops

60-second summary

Bitcoin holders are cashing out through on‑chain transfers and exchange withdrawals rather than selling at traditional market peaks, moving roughly 1.2 billion USD in the past week as price hovers near $27,800. This shift signals reduced liquidity on major exchanges, potentially tightening order books and amplifying price volatility if on‑chain sell pressure persists, affecting overall market stability.