Bitcoin's short-term holders (STHs) have reached a break-even point, with the STH-MVRV ratio nearing 1.0, historically signaling a local price bottom. Recent market activity has seen over 300 short liquidations, indicating a potential short squeeze that could apply upward pressure on Bitcoin's price. Despite recent market corrections, Bitcoin's price remains above its realized price, suggesting that most holders are still in profit, which may reduce the likelihood of panic selling. These developments, alongside institutional investment flows, hint at the possibility of an early accumulation phase for Bitcoin, provided key support levels are maintained.