Bitcoin has stabilized above $90,000 following recent volatility, with short-term holder (STH) loss transfers dropping significantly. Data from Darkfost indicates a sharp decline to 11,600 BTC from a peak of 67,000 BTC on November 22nd. This reduction suggests a decrease in panic selling, although the market continues to face pressure from uncertainty and tight liquidity. STHs are cautiously testing the market at the $90K level, with some opting to secure small gains or reduce exposure. The actions of these holders are expected to influence Bitcoin's near-term trajectory.