Bitcoin selling by short-term holders has been below the historical average, with approximately 21,000 BTC sold through centralized exchanges in the past 24 hours, according to CryptoQuant analyst Axel Adler Jr. This indicates a calm market sentiment among short-term holders despite recent price increases. Analysts suggest that $120,000 is the next psychological barrier, where profit-taking may intensify as Bitcoin approaches this level, a pattern observed at previous significant price milestones.