Bitcoin has maintained a consistent growth pattern, staying above long-term trends, indicating no speculative bubble. With the recent price around 113,545 USD, indicators point to a stable outlook driven primarily by short-term investors rather than long-term holders.
Market volatility is largely influenced by short-term holders, evidenced by 85.5% of spent volume coming from them. This imbalance suggests that while selling persists, long-term confidence in Bitcoin remains intact as the market matures.
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