Short-term Bitcoin holders signal positive market momentum as BTC breaks $30K

The cryptocurrency market is showing signs of renewed vigor as Bitcoin surged past the $30,000 mark on June 21 for the first time in the past two months.

This rally triggered over $228.8 million in short liquidations within 24 hours, with Bitcoin accounting for $110.5 million. Bitcoin’s resurgence over the $30,000 threshold could potentially signal an upcoming rally, a sentiment echoed by on-chain data, particularly the behavior of short-term holders.