Bitcoin – Why BTC is not in a price bubble, despite recent volatility

Key Points

1. Bitcoin's price is growing steadily, avoiding the wild spikes typical of past bull runs, and remains above its long-term growth trend.

2. A report by Arab Chain on CryptoQuant shows Bitcoin closely follows the Power Law theory, indicating disciplined, organic growth with potential for further upside.

3. On-chain data from Glassnode reveals that 85.5% of Bitcoin's spent volume in the last 24 hours came from short-term holders (STHs), highlighting their role in current market volatility.

4. Bitcoin's price hovered around $113,545 with a daily RSI of 42.91, showing weakened bullish momentum but not yet oversold, while OBV trends downward, reflecting reduced buying pressure.