In every bullish cycle, a specific group of investors, known as Bitcoin traders, plays a crucial role in maintaining demand throughout price rallies. These investors typically hold their Bitcoin for a period ranging from less than one month to a maximum of three months, aiming to profit from Bitcoin's price increases.

In the metric discussed, the unrealized profits and losses of Bitcoin traders are calculated. According to this metric, after Bitcoin's price reached the $70,000 level, driven by the surge in buying due to Bitcoin ETFs and the overall bullish market sentiment, a significant amount of coins were purchased near the $70,000 and $68,000 levels. Consequently, this led to a decrease in the unrealized profits for these traders.

In essence, we can interpret that Bitcoin's short-term bullish trend is strong when a greater number of investors hold their assets for more than one month and even Bitcoin traders engage in speculative buying during price rallies.

Given the current conditions and the sharp decline in the realized profits of this group, it appears that demand from new money and Bitcoin traders remains weak. Therefore, we must wait for renewed confidence among these investors and for more capital to flow into the market.

In conclusion, it can be inferred that, so far, short-term demand remains weak. Hence, it is wise to be more cautious in your financial decisions and adopt a longer-term perspective.

Written by Crazzyblockk