It's a common and versatile phrase used to indicate:
* Physical well-being: You are not sick or injured.
* Emotional well-being: You are feeling happy, calm, or content.
* General state of being: You are doing alright, with no particular issues or concerns.
Here are some examples of how to use "estoy bien" in different contexts:
* "How are you?" - "Estoy bien, gracias." (I am well, thank you.)
* "Are you okay?" - "Sí, estoy bien." (Yes, I am okay.)
* "Is everything alright?" - "Sí, estoy bien." (Yes, everything is alright.)
Note: The meaning of "estoy bien" can be slightly nuanced depending on the context and intonation. It's always best to consider the surrounding situation when interpreting its meaning.