Bitcoin’s Short-Term Holders Turn Bullish, Reaching New Profit Zones

Recent data reveals a shift in short-term holder (STH) sentiment towards Bitcoin as the price continues to surge. This metric hit its lowest point on April 7th at just 0.03, signifying that almost all STH-held supply was underwater during this correction. However, since then, the ratio has surged above 9.0, indicating that over 90% of STH are now in profit. This indicates a potential bullish momentum but also highlights the possibility of profit-taking events impacting market trends.