This influx of new capital has resulted in Bitcoin's 'hot supply' nearly doubling to almost $40 billion, up from a local low of $17.5 billion just five weeks ago.

Additionally, the recent surge in the number of coins moved reflects increased speculative investment, further contributing to the market's volatility.

In the past week alone, Bitcoin's hot capital has increased by over 90%, showcasing a significant shift in market sentiment.

While metrics such as transfer volume and fees are showing signs of recovery, the overall engagement within the network is still in the process of rebuilding.

Short-term holders are currently seeing profits as Bitcoin's price approaches the $95,000 mark, but the overall network participation indicates that a full bull market recovery has yet to occur.

As Bitcoin's price continues to rise, the market is experiencing a notable shift, with early signs of FOMO emerging among investors.

Despite these positive indicators, the number of active addresses has not significantly increased, suggesting that the market has not fully recovered to a classic bull market state.

Bitcoin is currently witnessing a surge in capital turnover as its price approaches $95,000, attracting new speculative investors.

Onchain analytics firm Glassnode reports a significant increase in short-term holder activity, with the amount of Bitcoin last moved up to a week ago reaching its highest level since early February.

Concerns have been raised about the sustainability of Bitcoin's price recovery, particularly regarding the emerging 'fear of missing out' (FOMO) among investors.

Glassnode's analysis highlights that while profitability metrics like Percent Supply in Profit are improving, daily active addresses remain low, indicating a need for organic engagement with the network to rebuild.

Given the current market dynamics, experts advise caution in investment decisions, emphasizing that all trading carries risks and personal research is essential.