That’s a good way to put it. Short term is dominated by mood/PR/talking heads, etc, but long term seems more about fundamentals. A company not making money can survive and pull a lot of stunts but sooner or later investors want to see profits or they bail. But that “sooner or later” might be 10 years.

A lot of people say crypto bubbles are evidence of inefficiency but just because the moves are craze driven doesn't mean there's a profit opportunity, and it doesn't mean that historical price data can be used to predict future price data. It's common to conflate "market doesn't follow economic fundamentals" with "market inefficiency" but afaik those are two different concepts.