June 25 (Cointime) - Bitcoin has made a significant recovery in value since the start of the month, reaching an all-time high above $31,000. On-chain signals suggest that there may be more uptrend to come, with over 1.8 million short-term holder coins now in profit.

While Bitcoin's trading volume is currently down, favorable fundamentals such as BlackRock's application for a spot Bitcoin ETF and Tether's investment in Bitcoin mining are boosting sentiment. Additionally, most long-term HODLers are not selling their Bitcoin, which could lead to a decrease in overall supply.