The 30-day moving average (30DMA) of the Net Unrealized Profit/Loss (NUPL) for Bitcoin's short-term holders (STH) in the 1-3 month cohort has crossed back above zero, indicating a shift in market sentiment. This cohort, with a realized price of $68,975, sees Bitcoin currently trading at $79,840. The 30DMA's move into positive territory suggests these holders are now in profit, reducing the pressure to sell at a loss and potentially signaling the start of a new expansion phase. Historically, similar crossovers in 2015, 2019, 2020, late 2022, and early 2024 have preceded significant market upswings. The current 30DMA level is around 5-6%, far from the 40% and 70% thresholds where profit-taking typically intensifies. This suggests room for further price appreciation before reaching levels where this cohort might start distributing their holdings.