Long-term outlook may be bullish for Bitcoin, but short-term volatility could play a role too.

• Bitcoin has held firm above its monthly open for June
• Fibonacci retracement levels highlighted the importance of the $102k support zone

Bitcoin [BTC] holders have continued to remain steadfast. In fact, a recent report revealed that whales/retail BTC inflows to exchanges slowed down too.

This behavior may be evidence of a preference for holding, rather than selling. While this could be bullish in the long term, the short-term price action might also see a dip.