Bitcoin Bulls Defend Key $55K Support Level as Short-Term Traders Prop Up Market

Short-term Bitcoin holders (STH) join during bull markets, seeking quick profits. Their behavior correlates with BTC price.

Currently, STHs hold nearly 50% of Bitcoin's realized market cap, reflecting high bullish sentiment.

STHs have provided key price support at $55K three times already this bull market.

Losing STH support under $55K could trigger a medium-term bear market.

STH realized price of $55K remains key support to defend to maintain the bull market structure.