Bitcoin’s short-term holders (STHs) are selling their holdings at a loss, signaling potential weakness in the crypto market ahead of the release of the FOMC minutes. This comes amidst increased bearish sentiment and expectations of upcoming Fed rate cuts. 99% of Bitcoin holders currently sit in profit due to recent price gains, but STH activity indicates a possible shift in market momentum. 121.7 million USD flowed out of spot Bitcoin ETFs, indicating institutional investors are selling off as well. Analysts predict the potential for Bitcoin prices to dip towards $112,000 after a period of range-bound trading near $115K. The FOMC minutes are expected to provide crucial insights into the future direction of Bitcoin and other cryptocurrencies. The Fed is likely to remain hawkish on rate cuts this year, potentially influencing market sentiment in the weeks ahead. STHs have previously been forced to sell at a loss during January 2023, marking the biggest correction of the current cycle. Since then, the market has largely recovered with Bitcoin reaching new all-time highs. Recent data from CryptoQuant suggests a spike in STH selling, with the SOPR metric falling below 1. This could indicate two scenarios: weakening momentum or a cleansing of weak hands to make room for bullish trends. The upcoming FOMC minutes are expected to set market direction this week. Traders will be watching closely as Fed Chair Jerome Powell’s stance on interest rate cuts continues to shape the crypto landscape.