Bitcoin's Bullish Momentum Remains Strong Despite Short-Term Volatility

I believe the bullish trend of Bitcoin might still be intact despite short-term fluctuations. Long-term holders (LTH) continue to remain in profitable zones, with the NUPL metric staying above 0.5, indicating strong confidence and holding conviction. Their relative stability in sentiment suggests that institutional and seasoned investors are not panicking and are rather confident in Bitcoin's long-term potential. On the other hand, short-term holders (STH) are experiencing more volatility, fluctuating near low-profit levels. This pattern often points towards partial profit-taking or selling pressure during price surges, which is typical in markets with active retail traders who tend to react quickly to market movements. Currently, Bitcoin's price hovers around $100,000, supported by a robust base of long-term holders. This support level signals that the foundational confidence from long-term investors remains strong and could be a catalyst for further upward movement in the future. The overall trend remains bullish, reinforced by the sustained commitment of long-term stakeholders. However, the short-term volatility and potential for pullbacks should be monitored closely, as they could lead to temporary corrections before the next leg upward.