Analyst: The fluctuation of Bitcoin is only caused by short-term investors taking profits, and the overall trend remains healthy.

BlockBeats news, on May 16, Bitcoin fell to just above $101,000 last night, then rebounded to above $104,000 at one point. Meanwhile, alts showed relatively weak performance, experiencing a widespread decline. Ruslan Lienkha, market director at YouHodler, stated that the current pullback seems to be a correction within a larger mid-term rise trend. After the delay of tariffs between China and the US, the upward momentum in the stock market has weakened, and short-term traders are starting to lock in profits. This shift in sentiment has spread to higher-risk assets, including Bitcoin. Kirill Kretov, a trading automation expert at CoinPanel, mentioned that any price fluctuation below 5% is often considered market noise. Part of this fluctuation may be due to profit-taking, as traders are cashing in after recent gains. With such thin liquidity, even a small sell-off can quickly translate into a noticeable pullback. Ignoring short-term fluctuations, the overall price movement appears healthy, with no clear signs of an imminent peak. Vetle Lunde, a senior analyst at K33 Research, stated that BTC has just come out of one of the longest periods below neutral financing rates, which is a signal for defensive positioning. This is similar to the patterns seen in October 2023 and October 2024, which are quite different from price movements near past market peaks. He is optimistic that BTC has not yet shown signs of a bubble after breaking through $100,000, paving the way for potential new highs. According to research by Steno Research, the tailwind for Crypto Assets comes from the invisible expansion of private credit, especially in the US and Europe. Leading indicators predict that global financial conditions will improve in the summer, mainly driven by a weaker dollar.