The trading activity of Bitcoin ETF on January 10th and 11th showed the behavior trend of short-term holders (STH). Short-term investors who held Bitcoin for less than 155 days transferred a total of $6.1 billion to exchanges on these two days, setting a new record since May 2021. It is reported that a large part of these transfers (20 billion US dollars on January 10th and a record-breaking 2.263 billion US dollars on January 11th) were achieved by sending profits to exchanges, highlighting the specific investment strategy adopted by short-term holders, resulting in obtaining a large amount of profit from the digital asset market.