[DigitalToday AI Reporter] Bitcoin has recently entered a correction phase, drawing investor attention. But the long-term market structure remains bullish. On Jan. 27 (local time), blockchain outlet BeInCrypto (beincrypto) said Bitcoin's recent drop is seen as a natural correction driven by short-term holders exiting rather than panic selling.

On-chain data also support that view. The share of Bitcoin supply in profit fell to 66.9 percent from 75.3 percent, matching past price-stabilisation phases. The long-term holders (LTH) net unrealised profit and loss (LTH NUPL) indicator is also declining, raising the likelihood that long-term investors choose to hold rather than sell.

Technical analysis shows Bitcoin moving within a rising broadening wedge pattern. It is expected to strengthen upward momentum after breaking above $89,241 and then reclaiming $90,000. But a pullback is expected at $98,000 before it reaches $100,000, and it could slide as far as $84,710 if it falls.

A move above $100,000 would be an important indicator for gauging long-term market stability and investor sentiment, beyond a simple price rise. With market liquidity and the macroeconomic environment likely to act as variables, investors need to take a cautious approach.