Bitcoin's short-term holder (STH) whales are currently enjoying $10.1 billion in paper gains, driven by recent ETF inflows and a weaker dollar, according to CryptoQuant data. These whales, who have acquired over 1,000 BTC in the past five months, are capitalizing on the favorable market conditions. Recent exchange inflow data reveals that $5.7 billion has moved from STH wallets to exchanges this week, indicating active profit-taking. Additionally, 3.45 million BTC have transitioned from long-term holders to STHs since the current cycle began, echoing the 2016–17 transfer wave but at significantly higher price levels.